A well-known individual had been searching for a suitable property to purchase for many years. Finally, they entered into a contract to buy a property that they fell in love with. The property is situated in a secluded location by the sea and has an outhouse that can be used as a studio, making it perfect for their artistic endeavours. However, the seller failed to complete it on the agreed date, leaving the buyer distraught. Although the seller had received a higher offer from someone else, the buyer was not concerned because they had already exchanged contracts with the seller.
Which of the following is the most suitable remedy for the buyer?
A well-known individual had been searching for a suitable property to purchase for many years. Finally, they entered into a contract to buy a property that they fell in love with. The property is situated in a secluded location by the sea and has an outhouse that can be used as a studio, making it perfect for their artistic endeavours. However, the seller failed to complete it on the agreed date, leaving the buyer distraught. Although the seller had received a higher offer from someone else, the buyer was not concerned because they had already exchanged contracts with the seller.
Which of the following is the most suitable remedy for the buyer?
The buyer should apply to the court for specific performance.
(D) The buyer has the option to seek specific performance as an equitable remedy to enforce a contract. This means that the court orders the party in breach to perform as agreed in the contract. In this situation, the artist has a strong attachment to the property and finds it perfect for their paintings. Therefore, no other remedy will satisfy the buyer's needs except for specific performance, which will allow them to obtain this particular property.
Answer (A) is almost correct, as an order for specific performance is a type of injunction that requires a party to perform. However, specific performance is a better option for this particular situation as it fulfils the buyer's specific needs.
Answers (B), (C), and (E) do not provide the desired outcome for the buyer, which is obtaining the property. Hence, they are not the best alternatives.