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Pass Georgia

Contracts

Specific performance

A court remedy compelling a party to complete a contract rather than pay damages, available because each parcel of real property is treated as unique.

How the exam uses specific performance

Offered alongside liquidated damages and rescission. The distinguishing idea is that money is an inadequate substitute for land.

What a question on this looks like

A seller accepts a buyer's offer but changes the closing date before signing and returns it. What has the seller created?

Answer: A counteroffer Any change to the terms of an offer rejects the original and creates a counteroffer. The buyer is now free to accept, reject or counter again, and the original offer is dead.

Drill this in context at practice by topic, or browse the full glossary.