Margo, who has inherited her grandmother's house and its contents, discovers a painting in the attic and enters into a contract to sell the painting to Antiques Unlimited, Inc. As Margo is loading the painting into the car, she notices the name Van Gogh in the lower right-hand corner and takes the painting to an art dealer for appraisal. When Margaret learns that it is indeed a rare Van Gogh painting, she refuses to sell it to Antiques Unlimited, Inc. What remedy would Antiques Unlimited, Inc. seek?

Question

Quizplus · Accepted Answer

Specific performance is a legal remedy that compels a party to execute a contract according to the precise terms agreed upon or to perform the contract as promised. In the case of unique items, like a rare Van Gogh painting, monetary damages are often considered inadequate because the item cannot be easily replaced in the market. Therefore, Antiques Unlimited, Inc. would likely seek specific performance to enforce the contract and require Margo to sell the painting as agreed.

Margo, Who Has Inherited Her Grandmother's House and Its Contents