New Jersey Complaint for Rescission, Specific Performance, Damages
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How to fill out New Jersey Complaint For Rescission, Specific Performance, Damages?
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FAQ
In order to enforce a contract, a party must have met his obligations under the contract to show a reason why his performance is excused. The defendant must have breached the agreement. The failure to convey the property will usually constitute a breach of the purchase and sale agreement.
A suit for specific performance can be filed by any party, in a court of competent jurisdiction, who has suffered loss due to non-performance of contract on part of the other party to the contract. Remedy of specific performance which is affected in case of breach of contracts is provided by the equity courts.
Specific performance is only ordered in situations in which monetary damages would be inadequate to compensate the injured party. When specific performance is ordered, money damages are usually not ordered as the moving party is typically not entitled to both types of damages.
However, to win a specific performance lawsuit the buyer`s sales contract must be exact enough for the court to order its performance. To prevent the seller from selling the property to another buyer, most specific performance lawsuits also involve recording a lis pendens against the home`s title.
Specific performance is only ordered in situations in which monetary damages would be inadequate to compensate the injured party. When specific performance is ordered, money damages are usually not ordered as the moving party is typically not entitled to both types of damages.
Suing for Specific Performance as a Buyer The buyer is allowed to sue for specific performance if the seller refuses to move forward with her obligations under the agreed upon contract.
Although the plaintiff can elect to claim specific performance from the defendant, the court has a discretion to grant or decline the order of specific performance.Plaintiff has a right of election whether to claim specific performance from the defendant or damages for breach of contract.
Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such as to complete performance of the contract.