Practice Quiz

Paralegal

Category - Legal System

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Art Dealer agreed to sell a Monet painting to Buyer. Dealer and Buyer agreed to a price of $350,000 with delivery to occur in one week. Two days later, Purchaser offered to buy the Monet for $450,000, and Dealer accepted. When the date for delivery to Buyer arrived, Dealer refused to complete the transaction. If Buyer sues, Buyer may be entitled to _____________________.
  1. Consequential damages.
  2. Specific performance.
  3. Incidental damages.
  4. Punitive damages.
Explanation
Answer: B - Specific performance. Specific performance is a form of equitable relief that a court can award if the legal remedies are inadequate. Specific performance is most often awarded when the subject matter of the transaction is unique, such as a painting or real property. Here, Buyer most likely is entitled to specific performance because the Monet is a one-of-a-kind original.
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