Nevada Complaint for Specific Performance of Real Estate Contract
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How to fill out Complaint For Specific Performance Of Real Estate Contract?
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FAQ
This is specific performance. For example, in a dispute over real property where one person has changed their mind about selling a house, a court can order that the real estate contract be honored. The judge will require that the purchase go through, even if earnest money has already been exchanged.
If the seller continues to refuse to complete the transaction, the next step is a specific performance lawsuit. To win, the buyer must show that there was a valid contract for the sale with specific terms and conditions, that the buyer is willing, ready and able to complete the sale, and the seller refuses.
Performance of a contract is: the doing of the acts, or. refraining from doing the acts. which are required by the express or implied terms of the contract.
What Are the Elements of Specific Performance? A valid and binding contract; Definite and certain terms; Mutuality of obligation and remedy; Freedom from fraud and overreaching; and. A lack of remedy at law.
With Assuming the deal is not contingent on another sale, and the seller wants out in order to get a better deal or simply changes their mind, the buyer has a remedy in the form of a suit in court for specific performance, seeking a court order requiring the seller to perform as the seller originally contracted to do.
A specific performance clause is a specialized type of contractual equitable relief that may require a defendant to complete the terms of a contract when the court believes that no other remedy (for example, money) will sufficiently compensate the injured party.
A contractual remedy in which the court orders a party to actually perform its promise as closely as possible, because monetary damages are somehow inadequate to fix the harm. Most commonly ordered in cases involving real property and rare chattels. COMMERCE. contracts.
In such instances, the amount of time that performance takes will dictate the order of performance. The general rule is that, if one party's performance will take some time while the other party's performance can be done in a very short time, it is implied that the performance that takes some time must come first.