Ask Question
BusinessBusiness
27 January, 13:21

You have found an ideal and unique parcel of land for your business to build its plant. You negotiate and sign and contract. Everything is fine until the seller backs out of the deal with no valid excuse. What is your best course of action to obtain that particular land?

+1
Answers (1)
  1. 27 January, 15:46
    0
    The answer is through legal redress known as Specific Performance.

    Explanation:

    A contract is an agreement between two or more people. It is legally binding and enforceable. Each individual must satisfy their separate obligations.

    Since the contract has been signed. This means it is legally binding.

    Since it is legally binding, the best course of action is to proceed to court of law.

    In law, this known as Specific Performance. Specific Performance is a resolution used by competent court of law to order a party to perform a specific act like order the owner of the land to relinquish the land. Specific Performance is an equitable remedy.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You have found an ideal and unique parcel of land for your business to build its plant. You negotiate and sign and contract. Everything is ...” 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
Explain how each of the following people would talk about scarcity and trade-offs. a. The President of the United States: b. The leader of a developing nation. c. A U. S. citizen whose income is in the top one percent. d. A U. S.
Answers (1)
A driver cuts off another vehicle, or threatens another motorist or a pedestrian. these are examples of:
Answers (1)
The CEO of D'Amico Motors has been granted some stock options that have provisions similar to most other executive stock options. If D'Amico's stock underperforms the market, these options will necessarily be worthless. Select one: a. True b. False
Answers (1)
At the end of the year, a company has the following accounts receivable and estimates of uncollectible accounts: Accounts not yet due = $79,000; estimated uncollectible = 7%. Accounts 1-30 days past due = $36,000; estimated uncollectible = 25%.
Answers (1)
If the interest rate on a savings account is 0.018% approximately how much money do you need to keep in this account for one year to earn enough interest to cover a single $9.99 below minimum balance fee
Answers (1)
New Questions in Business
What is the best course of action to remove autorun for removable disks and cd drives in windows?
Answers (1)
A plane leaves Seattle, flies 85 miles at 30o north of east, and then changes direction to 45o south of east. After flying 115 miles in this new direction, the pilot must make an emergency landing in a field.
Answers (1)
Companies like hewlett-packard and frito-lay routinely monitor blogs to gain insight into
Answers (1)
Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January: Issued 10,000 shares of common stock for $15,000 cash. Purchased land for $12,000, signing a note payable for the full amount.
Answers (1)
If the selling price per unit is $42, the unit contribution margin is $15, and total fixed expenses are $570,000, what will the breakeven sales in units be? Group of answer choices 13,571 38,000 8,550,000 21,111
Answers (1)
Home » Business » You have found an ideal and unique parcel of land for your business to build its plant. You negotiate and sign and contract. Everything is fine until the seller backs out of the deal with no valid excuse.
Sign Up Forgot Password?