Answered step by step
Verified Expert Solution
Question
1 Approved Answer
General Equity Corporation enters into a contract with Honi, who agrees to create artwork for General s main office building. Honi delays and eventually refuses
General Equity Corporation enters into a contract with Honi, who agrees to create artwork for Generals main office building. Honi delays and eventually refuses to perform. Meanwhile, General contracts to sell the building to Ideal Investments, Inc., but before the transaction is complete, Jewel Funds Company offers to pay a higher price. General refuses to transfer the building to Ideal. In separate suits by General against Honi and by Ideal against General, each plaintiff seeks specific performance. How might the court rule in each case, and why?
Question options:
The work contracted by Honi will most not be enforced as the courts look at contracts for personal services as the courts will not monitor the performance and basically looks at this type of enforcement as forced labor. The contract for the sale of property, however, will most likely be enforced because of the uniqueness of real property; that is no two pieces of real property are the same so a monetary award would not be satisfactory.
The work contracted by Honi will most likely be enforced as the courts look at contracts through the concept of specific performance The contract for the sale of property, however, will most likely be enforced because of the uniqueness of real property; that is no two pieces of real property are the same so a monetary award would not be satisfactory.
The work contracted by Honi will most likely be enforced as the courts look at contracts through the concept of specific performance The contract for the sale of property, however, will most likely not be enforced as similar property might be available in the area.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started