Langley Brothers, Inc Stock Registry
Gina L. Brooks
Unit 9 Assignment
September 6, 2010
Specific performance is the right of a party to a contract to demand that the defendant (the party who it is claimed breached the contract) be ordered in the judgment to perform the contract. Specific performance may be ordered instead of (or in addition to) a judgment for money if the contract can still be performed and money cannot sufficiently reward the plaintiff. Specific performance is exceptional and ordered only when an award of damages would be ‘inadequate’. With land contracts, however, the courts have far greater direct authority and specific performance is the preferred remedy for breach of land contracts. Specific performance is a rare remedy at law, but sometimes available where the subject of the breached contract is special and irreplaceable.
Tarrington contracts to sell her house and lot to Rainier. Then, on finding another buyer willing to pay a higher purchase price, she refuses to deed the property to Rainier. Marita contracts to sing and dance in Horace’s nightclub for one month, beginning June 1. She then refuses to perform.
Juan contracts to purchase a rare coin from Edmund, who is breaking up his coin collection. At the last minute, Edmund decides to keep his coin collection intact and refuses to deliver the coin to Juan.
Astro Computer Corp. has three shareholders: Coase, who owns 48 percent of the stock; De Valle, who owns 48 percent; and Cary, who owns 4 percent. Cary contracts to sell his 4 percent to De Valle but later refuses to transfer the shares to him.
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