When a contract is drawn up, it is expected that both parties will fulfill their obligations stipulated in the agreement. However, there are instances where one or both parties may fail to perform their duties, leading to a breach of contract. In such cases, the aggrieved party may seek court intervention to enforce specific performance of the contract.
Specific performance refers to the legal remedy where a party is compelled by the court to carry out their obligations as agreed upon in the contract. This remedy is usually sought when monetary compensation may not be sufficient to remedy the damage caused by the breach.
Here are the instances when specific performance may be enforced:
1. Unique subject matter
Specific performance is most commonly enforced in contracts that involve unique subject matters. These may include contracts related to real estate, intellectual property rights, or personal services. In such cases, it may be difficult to find an equal substitute for the subject matter, which makes specific performance the most appropriate remedy.
2. Inadequacy of monetary damages
If monetary damages are inadequate to remedy the damage caused by the breach, specific performance may be enforced. For example, if a contract involves the sale of a rare piece of art, monetary compensation may not be enough to remedy the damage caused by the breach.
3. Willingness to perform
For specific performance to be enforced, the party seeking the remedy must be willing and able to perform their obligations under the contract. If the aggrieved party is unwilling or unable to perform, the court may not grant the remedy.
4. Feasibility of performance
The court will only enforce specific performance if it is feasible to do so. If the obligations under the agreement are impractical or impossible to perform, the court may not grant the remedy.
5. Balance of convenience
The court will also consider the balance of convenience in deciding whether to enforce specific performance. If enforcing the remedy would cause undue hardship or inconvenience to the breaching party, the court may not grant the remedy.
In conclusion, specific performance is a legal remedy that can be enforced when a contract is breached. It is most commonly enforced in contracts that involve unique subject matters where monetary damages may not be sufficient. However, specific performance is subject to certain conditions, including willingness and feasibility of performance, and the balance of convenience.