Identify and explain any TWO (2) equitable remedies under the law of contract. (8 marks)
View Solution
- Specific performance – is a judicial order to the promisor that he undertake the performance to which he obligated himself in a contract. The injured party asks the court to order the other party to perform the promise made. Specific performance is an alternative remedy to damages and may be issued at the discretion of the court.
- Rescission – Is an order that seeks to restore the parties to their original status before the contract was made. In an action for rescission, the injured party asks the court to declare the contract void and return the contacting parties as near as possible to the positions they had prior to entering the contract.
- Injunction – It is a court order directing a person to stop doing that which she should not do. In an action for injunction, the injured party asks the court to restrain or enjoin the party in breach from certain activities.