Art Dealer agreed to sell a Monet painting to Buyer. Dealer and Buyer agreed to a price of $350,000 with delivery to occur in one week. Two days later, Purchaser offered to buy the Monet for $450,000, and Dealer accepted. When the date for delivery to Buyer arrived, Dealer refused to complete the transaction. If Buyer sues, Buyer may be entitled to _____________________.

Question

Quizplus · Accepted Answer

Specific performance. Specific performance is a form of equitable relief that a court can award if the legal remedies are inadequate. Specific performance is most often awarded when the subject matter of the transaction is unique, such as a painting or real property. Here, Buyer most likely is entitled to specific performance because the Monet is a one-of-a-kind original.

Art Dealer Agreed to Sell a Monet Painting to Buyer