The remedy of ‘specific performance’ is little-used but can be ‘extremely beneficial’ in M&A disputes. In this week’s NLJ, Yasseen Gailani, partner, and Megan Hiluta, senior associate, Quinn Emanuel, explain why looking beyond the remedy of damages may pay dividends for clients.
Gailani and Hiluta explain what specific performance is—‘The party requesting specific performance is, in essence, asking the court to order the other party to do what it had promised to do.’ They cover the circumstances in which it can be used, explain why and when lawyers may want to include it when drafting contracts, look at relevant caselaw and set out the many advantages of the remedy.
The authors write: ‘Specific performance can be a powerful remedy in commercial disputes—which can work both for and against you.’RELATED ARTICLES
