Winston contracts to sell a plot of land called Blackacre to Paris for $500,000.Winston breaches the contract and Paris sues him.Blackacre's reasonable market value at the time of the breach was $525,000.Paris can recover:
A)nothing,for he hasn't really suffered any harm.
B)nothing,because specific performance is his only remedy here.
C)only $25,000.
D)the entire $500,000.

Question

Quizplus · Accepted Answer

The calculation of the loss in value experienced by an injured party differs according to the sort of contract involved and the circumstances of the breach.In contracts involving nonperformance of the sale of real estate,for example,courts normally measure loss in value by the difference between the contract price and the market price of the property.

Winston Contracts to Sell a Plot of Land Called Blackacre