Discuss the elements of specific performance

Assignment Help Business Law and Ethics

Reference no: EM13773512

Scenario 1: 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 finalize the sale of the property to Rainier.

Scenario 2: Marita contracts to sing and dance in Horace's nightclub for one month, beginning June 1. She then refuses to perform.

Scenario 3: 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 sell the coin to Juan.

Scenario 4: Astro Computer Corp. has three shareholders. Among them are Coase and DeValle, who each own 48%, and Cary, who owns 4%. Cary contracts to sell his 4% to DeValle but later changes his mind.

In response to these scenarios be sure to:

• Discuss the elements of Specific Performance.

• Analyze whether or not the scenarios in above cases are covered under the doctrine of Specific Performance.

Assignment

In which of the following situations might a court grant specific performance as a remedy for the breach of the contract? Explain.

a) 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.

b) Marita contracts to sing and dance in Horace's nightclub for one month, beginning June 1. She then refuses to perform.

c) 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.

d) Astro Computer Corp. has three shareholders. Among them are Coase, who owns 48%, and Cary, who owns 4%. Cary contracts to sell his 4% to DeValle but later changes his mind.

Reference no: EM13773512

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