In a Suit Against Kit, Leo Obtains Specific Performance

question 31

Multiple Choice

In a suit against Kit, Leo obtains specific performance. This is

• A) an equitable remedy and a remedy at law.
• B) an equitable remedy only.
• C) a remedy at law only.
• D) neither an equitable remedy nor a remedy at law.

---

Definitions:

Subsidiary Company

A company controlled by another company, referred to as the parent company, through ownership of more than 50% of its voting stock.

Marketable Securities

Financial instruments that are easily convertible into cash due to their high liquidity and short maturity period.

Trading Securities

Financial instruments bought and held primarily for the purpose of selling them in the near term to profit from price changes.

Short-Term Investments

Financial assets that are easily convertible to cash usually within a year, intended for temporary holding.