ContractsPregunta 55 de 120
The remedy of 'specific performance' in a real estate contract dispute means:
a.The buyer receives triple the deposit as damages
b.The contract is automatically canceled with no consequences
c.A court orders the breaching party to complete the sale as agreed
d.The broker forfeits the entire commission
Explicación
Specific performance is an equitable remedy in which a court orders a party to perform the contract as agreed, often available because each parcel of real estate is unique. A buyer may seek it to compel a reluctant seller to convey title. It is an alternative to monetary damages.
Practica las 120 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- A contract in which only one party makes a promise, such as an option to purchase, is a:
- An 'executory' contract is one in which:
- A contingency in a purchase contract, such as a financing or inspection contingency, functions to:
- 'Liquidated damages' in a purchase contract typically refers to:
- When a new party is substituted for an original party to a contract, with the consent of all parties, this is called:
- A listing agreement in which the broker earns a commission only if that broker procures the buyer, but the seller may also sell independently without owing a commission, is a(n):
Última revisión: · proceso editorial
Equipo Editorial de PrepPass · Verificado con Florida Real Estate Sales Associate Licensing Exam · Cómo revisamos