Fact Pattern 16-1 (Questions 7–8 apply)
Estelle enters into a contract to buy 132 acres from Desmond to subdivide and sell in quarter-acre lots for Country Acres, a residential development.

-Refer to Fact Pattern 16-1.If Desmond breaches the contract,Estelle's remedy would most likely be
A)a certain ratio of the amount that Desmond has in liquid funds.
B)a percentage of Desmond's unrealized profit.
C)the difference between the land's contract and market prices.
D)specific performance.

Question

Fact Pattern 16-1 (Questions 7–8 apply)
Estelle enters into a contract to buy 132 acres from Desmond to subdivide and sell in quarter-acre lots for Country Acres, a residential development.

-Refer to Fact Pattern 16-1.If Desmond breaches the contract,Estelle's remedy would most likely be
A)a certain ratio of the amount that Desmond has in liquid funds.
B)a percentage of Desmond's unrealized profit.
C)the difference between the land's contract and market prices.
D)specific performance.

Quizplus · Accepted Answer

Estelle's remedy for breach of contract by Desmond would most likely be specific performance, which would require Desmond to follow through with the sale of the 132 acres. This would be the most appropriate remedy given the unique and specific nature of the land in question, which may not have an easily determinable market price or unrealized profit potential.

Fact Pattern 16-1 (Questions 7–8 Apply)