What Does “Specific Performance” Mean in a Contract?
A court remedy requiring a party to actually perform their contractual obligations, rather than just paying money damages.
Detailed Explanation
Specific performance is an equitable remedy where courts order actual performance instead of just awarding damages. It's typically available when money damages are inadequate—for example, in real estate transactions (each property is unique) or for delivery of unique goods.
In contracts, parties sometimes agree that specific performance is an appropriate remedy, acknowledging that money can't fully compensate for certain breaches.
Example in a Contract
“The parties acknowledge that the Subject Property is unique and that monetary damages would be inadequate remedy for Seller's failure to convey. Buyer shall be entitled to specific performance of Seller's obligations hereunder.”
Why It Matters
Specific performance can force the other party to actually do what they promised, not just pay you for their failure. It's powerful but not always available—courts require showing that damages are truly inadequate.
Related Terms
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