What is a common remedy for breach of a sales contract?

Specific performance is commonly considered an appropriate remedy for breaches of a sales contract, particularly in real estate transactions. This stems from the unique nature of real property, where each parcel of land is distinct and cannot be easily replicated. In cases where the seller breaches the contract by refusing to convey the property, the buyer may seek a court order compelling the seller to fulfill their obligation to transfer the property, instead of merely awarding monetary damages.

While monetary damages are a standard remedy for breaches of many contracts, in real property sales, the availability of specific performance allows the non-breaching party to receive the specific benefit of the bargain—namely, the actual property in question. The idea is that since land has unique qualities, simply receiving money in lieu of the property often does not provide the same level of satisfaction or remedy to the aggrieved party.

Other remedies mentioned, such as voiding the contract completely or collecting punitive damages, do not align with the jurisprudential approach toward sales of real property. Voiding the contract may not address the essential interest of the parties involved, and punitive damages are typically reserved for cases involving intent and misconduct, rather than mere breaches of a sales contract in real estate.