Remedies outline tort remedies
Buyer will have made a late
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- Inadequate Legal Remedy
- Mutuality of Remedy
| Buyer will have made a late payment
Buyer will bring a lawsuit for specific performance. Equity Maxim – Equity Abhors Forfeitures Factors Court will use to Avoid Forfeiture Loss to seller is small Tardiness is de minimis (Minimal) Waiver (seller accepted previous late payments) Buyer would suffer undue hardship Note – Under the modern view courts will give P restitutionary relief IF specific performance is not granted Note – This is for partially performed K. If the contract is executory (no performance by buyer) then the time is of the essence clause will be strictly enforced Inadequate Legal Remedy Damages are speculative, D is insolvent Avoiding a multiplicity of actions (i.e. prior history of actions) Property is Unique Land is always unique Personal Property is not unique. Exceptions: personal property is unique if it is one of a kind, very rare, has a personal significance to buyer, or if circumstances make chattel unique. Note – Uniqueness is tested at the time of litigation Special Seller's Rule – Sellers of land can get specific performance even though all they have coming is money. Mutuality of Remedy (3 Part Rule) Traditionally specific performance was granted only if D could have obtained like relief from the P had the P breached. Download 92.5 Kb. Share with your friends:
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