Case Law on Specific Performance of Contract
Specific performance is a legal remedy available to a party who has entered into a contract and seeks to enforce that contract against the other party. It is an equitable remedy that requires the party in breach to perform its obligations under the contract. The remedy of specific performance is granted when monetary damages are inadequate to compensate the injured party for the breach of contract.
In the context of contract law, specific performance is often used in cases involving the sale of land or unique goods. In these cases, monetary damages may not be an adequate remedy because the property or goods are unique, and the injured party cannot simply purchase a replacement elsewhere.
The following are some of the landmark cases on specific performance of contract:
1. Lumley v. Wagner (1852)
Lumley v. Wagner is a leading case in the area of specific performance of contract. In this case, the plaintiff, Lumley, contracted with the defendant, Wagner, for her to perform exclusively at his theater. However, Wagner breached the contract by accepting an offer to perform at another theater. Lumley sought an injunction to prevent Wagner from performing at the other theater and to force her to perform at his theater. The court granted the injunction and enforced the contract by ordering specific performance.
2. Beswick v. Beswick (1968)
Beswick v. Beswick is another landmark case on specific performance of contract. In this case, the plaintiff, Mrs. Beswick, entered into a contract with her nephew, the defendant, for the transfer of her deceased husband`s property to the defendant in exchange for him paying her a weekly sum of money. When the defendant refused to make the payments, Mrs. Beswick sought specific performance of the contract. The court granted the remedy of specific performance, and the defendant was ordered to pay the weekly sum of money to Mrs. Beswick.
3. Co-operative Insurance Society v. Argyll Stores (Holdings) Ltd. (1998)
Co-operative Insurance Society v. Argyll Stores is a recent case on specific performance of contract. In this case, the plaintiff, Co-operative, entered into a contract to purchase a number of retail stores from the defendant, Argyll. The contract contained a clause requiring the stores to be in a satisfactory condition at the time of completion. However, the stores were not in a satisfactory condition, and Co-operative sought specific performance of the contract. The court granted the remedy of specific performance, and Argyll was ordered to transfer the stores to Co-operative.
Conclusion
In conclusion, the remedy of specific performance is available in cases where monetary damages are inadequate to compensate the injured party for the breach of contract. The landmark cases discussed above demonstrate the importance of this remedy in contract law. As a professional, it is essential to understand the legal concepts and case law surrounding specific performance of contract to ensure that any published content is accurate and informative.