In contract law, what is considered a remedy for nondelivery?

In contract law, specific performance is a remedy that compels a party to fulfill their contractual obligations as agreed upon, rather than simply providing monetary compensation for a breach. When a contract involves the delivery of unique goods or property, and one party fails to deliver, the injured party may seek specific performance in court. This is particularly relevant in real estate transactions, where the property is often considered unique and cannot be easily replaced or compensated for with money.

Specific performance ensures that the non-breaching party receives exactly what they were entitled to under the terms of the contract. It serves as a powerful tool for enforcing the agreement and offering satisfaction that is aligned with the original contract's intent. While other remedies, such as compensatory damages and liquidated damages, involve financial compensation, they do not provide the actual goods or property that was meant to be delivered. A waiver of liability does not address the issue of nondelivery and does not provide a remedy in situations concerning the fulfillment of contract terms.