Availability depends entirely on the agreement's remedy provisions. Conditional specific performance permits enforcement only where defined conditions such as financing availability are met, creating a hybrid remedy structure.
Delaware enforces these provisions as drafted.
Alternative Names:
Deal Specific Performance|Compelled Closing
Why it Matters?
Conditional constructs mean a seller may have specific performance on paper and nothing in practice, since enforcement conditioned on debt financing being available leaves the seller remediless if lenders withdraw. Understanding the trigger conditions rather than the existence of the remedy is the analysis. Delaware has ordered buyers to close where the conditions were met, which makes the provision meaningful when properly drafted.
Frequently Confused with
Related terms
Frequently asked questions
Why might specific performance be illusory?
Has Delaware ordered buyers to close?
