STU17

Question 1

Describe the basis a court will generally use to grant the remedy of specific performance?

Answer 1

Specific performance is granted when no other remedy is adequate, and irreparable injury will result if it is not granted. Thus, monetary damages are not available or are not adequate, and the subject matter of the contract is unique, e.g., a rare painting or land. A patent meets the requirements for specific performance because it is unique. In addition, monetary damages are not adequate because no reliable method exists for determining how much money the purchaser would have earned from the use of the patent.