453. Specific performance.

Specific performance of a binding contract for the sale of land is a discretionary remedy which can be ordered by the court in cases where damages for breach of contract would not adequately compensate the innocent party's loss1.

The innocent party may apply for an order even before the contractual date for completion provided he can satisfy the court that a serious breach of contract is likely to occur if the court does not intervene2. Once the contractual completion date has passed an action for specific performance can be commenced without serving a notice to complete3.

The statutes of limitation4 do