Contracts
What is 'specific performance' as a remedy for breach of a Nevada real estate contract?
AA penalty requiring the breaching party to pay double the earnest money
BA court order compelling the breaching party to fulfill the terms of the contract — typically used by buyers when a seller refuses to close, since real property is considered unique✓ Correct
CA NRED-ordered penalty for agents who breach client agreements
DA contractual provision requiring inspection within 10 days
Explanation
Specific performance is an equitable remedy available when monetary damages are insufficient. Because real property is considered unique and irreplaceable, Nevada courts may order a seller who refuses to close to actually convey the property. Buyers more commonly seek specific performance than sellers (who typically prefer to keep the earnest money as liquidated damages). Specific performance requires court action and is not automatic.
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