A When Is Specific Performance Available to Enforce a Contract

question 51

Essay

a. When is specific performance available to enforce a contract?
b. Under what circumstances will a court grant specific performance to enforce a contract involving personal services?
c. What remedy did the court award in the Madison Square Garden case? Explain why the court chose this remedy.

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Definitions:

Last Dividend

The most recent distribution of profits made by a corporation to its shareholders.

Indefinitely

For an unlimited or unspecified period of time, lacking a definite end.

Recently Declared

Refers to a statement, dividend, or decision that has been announced or made public by a company or governing body in the near past.

Preferred Stock

A class of ownership in a corporation that has a higher claim on its assets and earnings than common stock, typically with fixed dividends.