Question # 4: General Equity Corporation enters a contract with Nancy, a local artist, to create a mosaic of her famous painting â€œThe Birth of Industryâ€ to be set into the floor in the entrance hall of the new corporate headquarters. Nancy delays and then eventually refuses to perform the contract. In the meantime, General enters a contract with Ideal Investments, Inc. to sell the new building to Ideal. Before the sale of the building is complete, Jewel Funds, Inc. offers General a higher price for the new building and General refuses to honor the contract with Ideal Investments. General brings a lawsuit against Nancy for her breach of contract and seeks the remedy of specific performance. Ideal, after successfully enjoining the sale of the building to Jewel Funds, brings a lawsuit against General seeking a court order compelling General to complete the sale to Ideal. In your answer, discuss whether or not a court would grant the plaintiffâ€™s request for the remedy of specific performance in each case. If you conclude that a court would not grant the remedy of specific performance in either case, discuss what the measure of damages might be available to the plaintiff in that action.
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