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In which of the following situations is specific performance available as a remedy? (a) Mary and Anne enter into a written agreement under which Mary agrees to sell and Anne agrees to buy for $100 per share one hundred shares

In which of the following situations is specific performance available as a remedy?
(a) Mary and Anne enter into a written agreement under which Mary agrees to sell and Anne agrees to buy for $100 per share one hundred shares of the three hundred shares outstanding of the capital stock of the Infinitesimal Steel Corporation, whose shares are not listed on any exchange and are closely held. Mary refuses to deliver when tendered the $10,000.
(b) Modifying (a) above, assume that the subject matter of the agreement is stock of the United States Steel Corporation, which is traded on the New York Stock Exchange.
(c) Modifying (a) above, assume that the subject matter of the agreement is undeveloped farmland of little commercial value.

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a Anne may obtain specific performance on this contract Where shares of stock in a corporati…View the full answer


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Smith and Roberson Business Law

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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Question Details
Chapter # 18
Section: Problems
Problem: 6
Posted Date: April 03, 2012 07:17:33
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