Business Law 12th Edition by Roger LeRoy Miller ,Frank Cross

Exercise 2

QUESTION WITH SAMPLE ANSWER: Specific Performance.
In which of the following situations would specific performance be an appropriate remedy? Discuss fully.
(a) Thompson contracts to sell her house and lot to Cousteau. Then, on finding another buyer willing to pay a higher purchase price, she refuses to deed the property to Cousteau.
(b) Amy contracts to sing and dance in Fred's nightclub for one month, beginning May 1. She then refuses to perform.
(c) Hoffman contracts to purchase a rare coin owned by Erikson, who is breaking up his coin collection. At the last minute, Erikson decides to keep his coin collection intact and refuses to deliver the coin to Hoffman.
(d) ABC Corp. has three shareholders: Panozzo, who owns 48 percent of the stock; Chang, who owns another 48 percent; and Ryan, who owns 4 percent. Ryan contracts to sell her 4 percent to Chang. Later, Ryan refuses to transfer the shares to Chang.