Please answer the question 19-2. It must be typed. NO HAND WRITING. please answe
ID: 326330 • Letter: P
Question
Please answer the question 19-2. It must be typed. NO HAND WRITING. please answer as soon as possible
iWindsor pays the deposit, but because her expected finance balance falls through, she breaches the (b) Amy contracts to sing and dance in Freds for one month, beginning May 1. She then perform refuses to ing of the $90,000 contract. Two weeks later Cohen sells the house and lot to Ballard for $105,000. Windsor demands her $10,000 back but Cohen refuses, claiming that and the contract terms entitle him to keep the deposit. Discuss who coin owned by Erikson, who is breaking up his coin colleet At the last minute, Erikson decides to keep hi collection intact and refuses to delv oin t Windsor's breach and the () Hoffman contracts to purchase a ra is correct. (See page 354) r the con to 19-2. Specific Performance. In which of the following situ- ations would specific performance be an appropriate rem- Hoffman. edy? Discuss fully. (See page 355.) (d) ABC Corp. has three shareholders: Pano zzo, who fa) Thompson contracts to sell her house and lot to Cousteau. Then, on finding another buyer willing to pay a higher purchase price, she refuses to deed the owns 48 percent of the stock; Chang, who owns another 48 percent; and Ryan, who owns 4 percent Ryan contracts to sell her 4 percent to Chang. Later Ryan refuses to transfer the shares to Chan property to CousteauExplanation / Answer
Specific performance is an appropriate remedy if monetary damages are inadequate as a remedy and the subject matter of contract is unique
a) In this case the land is unique and money damages could not compensate a buyer adequately as the same land cannot be purchased anywhere else. So specific performance is an appropriate remedy here.
b) It is a kind of personal contract to which specific performance doesn’t apply. This service could be readily available from others so it is not unique and monetary damages for nonperformance are adequate. So specific performance remedy is not appropriate here.
c) Here the subject matter i.e. a rare coin is unique and monetary damages are inadequate. So specific performance is an appropriate remedy here.
d) In a closely held corporation the stock is not available in the market and the shares become unique. This can be seen for the fact that only with 4% transfer of shares change becomes the controller of the company. Monetary damages are also inadequate for changes specific performance is an appropriate remedy here.