Contracts
In Pennsylvania real estate, 'specific performance' is a legal remedy that:
ARequires the breaching party to pay the earnest money deposit as liquidated damages
BCompels a party to perform their contractual obligations — particularly used by buyers to force a seller to convey the property as agreed✓ Correct
CAllows PREC to suspend a licensee's license for misrepresentation in a transaction
DRequires the parties to submit their dispute to binding arbitration before filing suit
Explanation
Specific performance is an equitable remedy in which a court orders a party to fulfill their contractual obligations rather than simply pay damages. In Pennsylvania real estate, specific performance is most commonly sought by a buyer when a seller breaches the sales contract by refusing to convey the property — because each parcel of real estate is considered unique, money damages alone may be inadequate.
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