Asked by Jessica Alonso on Jul 08, 2024
Verified
In which of the following transactions is the buyer most likely to be entitled to specific performance of the contract?
A) A contract for the purchase of a tanker of crude oil
B) A contract for the purchase of 1,000 tons of wheat
C) A contract for the purchase of 100,000 light bulbs
D) A contract for the purchase of a Picasso painting
Specific Performance
A court order compelling a party to execute a contract according to its precise terms when monetary compensation is inadequate.
Picasso Painting
An artwork created by Pablo Picasso, a Spanish painter and sculptor known for co-founding the Cubist movement.
Purchase of Light Bulbs
The act of acquiring light bulbs through buying, which involves selecting the desired type, wattage, and technology (like LED, incandescent).
- Understand the importance of specific performance and the circumstances where it is applicable.
Verified Answer
KG
karina garciaJul 10, 2024
Final Answer :
D
Explanation :
Specific performance means that the buyer can require the seller to give the buyer the exact goods covered by the contract.Sometimes,the goods covered by a contract are unique and it is not possible for a buyer to obtain substitute goods.When this is the case,the buyer is entitled to specific performance of the contract.
Learning Objectives
- Understand the importance of specific performance and the circumstances where it is applicable.