| Noun | 1. | specific performance - the performance of a legal contract as specified by its terms |
SPECIFIC PERFORMANCE, remedies. The actual accomplishment of a contract by
the party bound to fulfill it.
2. Many contracts are entered into by parties to fulfill certain
things, and then the contracting parties neglect or refuse to fulfill their
engagements. In such cases the party grieved has generally a remedy at law,
and he may recover damages for the breach of the contract; but, in many
cases, the recovery of damages is an incompetent remedy, and the party seeks
to recover a specific performance of the agreement.
3. It is a general rule, that courts of equity will entertain
jurisdiction for a specific performance of agreements, whenever courts of
law can give but an inadequate remedy; and it is immaterial whether the
subject relate to real or personal estate. 1 Madd. Ch. Pr. 295; 2 Story on
Eq. Sec. 717; 1 Sim, & Stu. 607; 1 P. Wms. 570; 1 Sch. & Lef. 553; 1 Vern.
159.
4. But the rule is confined to cases where courts of law cannot give an
adequate remedy. 2 Story on Eq. Sec. 718; Eden on Inj. ch. 3, p. 27. Vide,
generally, 2 Story on Eq. ch. 18, Sec. 712 to 792; 1 Supp. to Ves. jr. 96,
148, 184, 211, 495; 2 Supp. to Ves. jr. 65, 164; Fonb. Eq. b. 1, c. 1, s. 5;
Sugd. Vend. 145.