What remedy is referred to when a breach of contract compels a seller to fulfill a contract of sale?

Specific performance is the remedy that compels a party to fulfill their obligations under a contract, particularly in situations where monetary damages would not adequately compensate the non-breaching party. In the context of a real estate transaction, if a seller fails to complete the sale as agreed, the buyer may seek specific performance to enforce the contract and compel the seller to proceed with the sale of the property.

This remedy is particularly relevant in real estate transactions because each property is unique. Therefore, if the seller does not complete the sale, simply awarding monetary damages may not fully satisfy the buyer's interests, as they might not be able to find another property that meets their needs as well as the first one did.

Monetary damages and liquidated damages involve financial compensation but do not ensure the actual performance of the agreement, while rescission refers to terminating the contract altogether rather than enforcing its terms. In the case of a breach of a contract of sale, seeking specific performance aligns with the buyer's objective of obtaining the exact property they originally intended to purchase.