Ask Question
BusinessBusiness
15 January, 15:59

Alex made a contract to sell his condominium to Joshua for $80,000. Two days later Alex changed his mind after discovering that he could have sold the property to another buyer for an additional $20,000. Joshua sues and asks the court to have the property conveyed to him at the price of $80,000. Joshua is seeking:

+5
Answers (1)
  1. 15 January, 16:40
    0
    specific performance

    Explanation:

    Specific performance in contract law refers to an equitable remedy by which a court will order the parties to complete the performance of the contract. Equitable remedies are court actions taken to solve contract breaches or disputes.

    In this case, the court should order Alex to complete performance by selling his condominium to Joshua.

    Specific performance is carried out to avoid having to deal with possible damages caused by contract breaches.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Alex made a contract to sell his condominium to Joshua for $80,000. Two days later Alex changed his mind after discovering that he could ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Assuming no fixed costs are avoidable in the short run, a perfectly competitive firm's short-run supply curve is A. the portion of its average variable cost curve that lies below its average total cost curve. B.
Answers (1)
Which activity best demonstrates the trait of responsibility? A. demonstrating accountability for your actions B. being a team player C. being loyal to the organization in times of crisis D. taking on self-improvement activities
Answers (1)
Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods
Answers (1)
If the marginal cost of producing the fifth unit of output is higher than the marginal cost of producing the fourth unit of output, then at five units of output, average total cost must be rising. a. True b. False
Answers (1)
Tanuja Singh is a CPA and operates her own accounting firm (Singh CPA, LLC). As a single-member LLC, she reports her accounting firm operations as a sole proprietor.
Answers (1)
New Questions in Business
Consider a perfectly competitive market in which all firms have the same costs. Choose the statement that is incorrect. A. The market supply curve is upward sloping at prices above the firm's shutdown price. B.
Answers (1)
1. Identify a company or organization from which you have received high-quality products and describe the characteristics which make it high quality. 2.
Answers (1)
Consider the following list of accounts: Cash Retained Earnings Service Revenue Utilities Expense Salaries Expense Accounts Receivable Accounts Payable Common Stock Equipment Dividends How many of these accounts have a normal debit balance?
Answers (1)
On July 9, Mifflin Company receives an $7,400, 90-day, 10% note from customer Payton Summers as payment on account.
Answers (1)
Which of the following preventive strategies is described below: Violence often escalates. Behaviors like excessive complaining, hostility, threats, swearing, and sabotage frequently precede more violent incidents.
Answers (1)
Home » Business » Alex made a contract to sell his condominium to Joshua for $80,000. Two days later Alex changed his mind after discovering that he could have sold the property to another buyer for an additional $20,000.
Sign Up Forgot Password?