Final answer:
The legal remedy that enforces a party to honor the terms of a contract is known as specific performance. It's applied when damages are insufficient, ensuring the contract's fulfillment and upholding property and contractual rights.
Step-by-step explanation:
The remedy for breach of contract that asks the courts to force the other party to proceed as the contract states is called specific performance. This legal solution compels a party to fulfill their contractual obligations when damages are not adequate to resolve the breach. An example of specific performance is when a skilled surgeon who has performed surgery in compliance with an employment agreement demands payment for services rendered. If the patient fails to pay, the surgeon could seek specific performance to enforce the contract terms and ensure payment is made, thereby mitigating the risk of noncompliance and ensuring respect for contractual rights. Without a legal system that enforces contracts such as these, it would challenge economic growth and the relevant transactions.