What is specific performance in legal terms?

Specific performance is a legal remedy that mandates a party to fulfill their contractual obligations as specified in the agreement. This remedy is typically used in situations where monetary damages are inadequate to compensate for the breach of contract. For example, in cases involving unique goods, real estate, or services that cannot easily be replaced, the court may order the party in breach to perform their duties as originally agreed upon.

The use of specific performance emphasizes the importance of honoring contracts and aims to ensure that the non-breaching party receives the benefits they were entitled to under the agreement. It reflects the principle that, in certain instances, simply providing financial compensation does not serve to rectify the harm done by the breach.