Specific Performance

Definition

• A remedy in a court of equity compelling a defendant to carry out the terms of an agreement or contract. It is available only where the remedy of damages cannot afford adequate relief to the plaintiff.

Synonyms
injunction, court order

Related Terms and Acronyms

• Causation — Definition,
  • A method of connecting an entity's conduct with an effect, which in some cases can prove legal liability.
• Common Law (CL) — Acronym, Very Important,
  • Traditional, unwritten law based on English custom.
  ➥ Laws developed by judges through court decisions and precedent.
• Contract — Definition,
  • An agreement between two or more parties that can be enforced by law.
• Defendant — Definition,
  • The accused party in a lawsuit or criminal trial.
• Exposure — Definition,
  • How much liability an insurer takes on when they write an insurance policy.
• Financial Responsibility Laws — Definition,
  • A type of law that requires an entity to be capable of paying for damages in the event of a potential claim.
• Indemnity — Definition,
  • An arrangement where one party assumes liability for another party.
• Injunction — Definition,
  • A court order that prohibits a party from taking a specific course of action.
• Liability — Definition,
  • A situation where one party is found to be legally responsible for something.
• Plaintiff — Definition,
  • The party who initiates a lawsuit.
• Settlement — Definition,
  • An agreement between the parties of a legal case.
• Tort Law — Definition,
  • Civil law or the laws that govern civil lawsuits.