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Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts
Edition 11ISBN: 978-1133587576Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts
Edition 11ISBN: 978-1133587576 Exercise 15
In which of the following situations is specific performance available as a remedy?
a. Mary and Anne enter into a written agreement under which Mary agrees to sell and Anne agrees to buy for $100 per share one hundred shares of the three hundred shares outstanding of the capital stock of the Infinitesimal Steel Corporation, whose shares are not listed on any exchange and are closely held. Mary refuses to deliver when tendered the $10,000.
b. Modifying (a) above, assume that the subject matter of the agreement is stock of the U.S. Steel Corporation, which is traded on the New York Stock Exchange.
c. Modifying (a) above, assume that the subject matter of the agreement is undeveloped farmland of little commercial value.
a. Mary and Anne enter into a written agreement under which Mary agrees to sell and Anne agrees to buy for $100 per share one hundred shares of the three hundred shares outstanding of the capital stock of the Infinitesimal Steel Corporation, whose shares are not listed on any exchange and are closely held. Mary refuses to deliver when tendered the $10,000.
b. Modifying (a) above, assume that the subject matter of the agreement is stock of the U.S. Steel Corporation, which is traded on the New York Stock Exchange.
c. Modifying (a) above, assume that the subject matter of the agreement is undeveloped farmland of little commercial value.
Explanation
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a)"AN will obtain the specific performan...
Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts
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