Final answer:
When a seller does not deliver the promised real estate area, the buyer can choose remedies including rescission of the sale, price reduction, or enforcement of specific performance. The best course of action depends on the details of the sale and legal provisions.
Step-by-step explanation:
In a sale of real estate in lump sum where the seller does not wish to deliver the entire area within the boundaries stated in the contract, the buyer has several potential remedies. These remedies can generally be summarized as follows:
- Rescission of the sale: This means that the sale agreement can be cancelled, and any sums paid would be refunded. This remedy is a possibility if, for any reason, the seller cannot provide possession of the property as agreed.
- Reduction in the purchase price: If the area delivered is less than what was agreed upon, the buyer might claim a reduction in the amount to be paid, proportional to the discrepancy.
- Enforce a specific performance: The buyer could seek the court's intervention to enforce the exact terms of the contract, compelling the seller to comply with the contract stipulations.
- Demand additional properties: While less common and highly dependent on the specifics of the situation and jurisdiction, theoretically a buyer could seek additional properties to compensate for the deficiency.
Generally, the preferred remedy will depend on the particular circumstances of the sale, the terms of the contract, and the applicable law.