Specific Performance Is the Remedy Customarily Used When One Party

question 42

True/False

Specific performance is the remedy customarily used when one party has breached a contract for a sale of land.

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Definitions:

Indemnity

A legal agreement to compensate for any losses or damages incurred by another party.

Statute of Frauds

A legal principle that certain types of contracts must be in writing and signed by the party to be charged, in order to be enforceable.

Legal Person

An entity, such as a corporation, recognized by law as having rights and obligations.

Infants

Children in the earliest stage of their lives, typically considered to be from birth to 2 years old.