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11 October, 07:22

Alex made a contract to sell his condominium to Joshua for $80,000. Two days later Alex changed his mind after discovering that he could have sold the property to another buyer for an additional $20,000. Joshua sues and asks the court to have the property conveyed to him at the price of $80,000. Joshua is seeking:

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  1. 11 October, 07:56
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    specific performance

    Explanation:

    Specific performance in contract law refers to an equitable remedy by which a court will order the parties to complete the performance of the contract. Equitable remedies are court actions taken to solve contract breaches or disputes.

    In this case, the court should order Alex to complete performance by selling his condominium to Joshua.

    Specific performance is carried out to avoid having to deal with possible damages caused by contract breaches.
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Home » Business » Alex made a contract to sell his condominium to Joshua for $80,000. Two days later Alex changed his mind after discovering that he could have sold the property to another buyer for an additional $20,000.
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