Chers étudiants,
Suite au cours de ce vendredi matin, vous trouverez ci-dessous quelques précisions concernant la différence entre Performance and Specific performance.
Kind Regards
English Teachers
Performance:
Performance
is, simply put, the carrying out of contract obligations. By performing
the obligations of a contract the party is discharged of future
liabilities under the contract. When both parties complete their
performance the contract is effectively ended. The performance is only
completed if the actions of the parties match the obligations set out by
the contract.
Specific Performance
Specific performance is an equitable remedy in contract law. This means that the court
has become involved, due to a dispute over performance, and orders one
or more of the parties to carry out their obligations under the
contract.
It is quite commonly used in
business contracts when the sharing of confidential information is
required to be shared between parties and also in real property
transactions.
Example: Sale of a house - Party A offers to buy Party B's house. Party B accepts this offer and a contract for sale is entered into. However, at a later date, Party B decides to retain possession of the house and does not turn over possession of the property as required by the contract. Party A has a right to seek redress with the courts and the court may order that Party B carries out their obligation of transfer of possession of the house to Party A.