BU231 Lecture Notes - Lecture 11: Specific Performance, Equitable Remedy, Promissory Note
Document Summary
Vicarious performance someone else does it for you. Trusts pool of money set up, ready to take care of you. A little per month is given to you ie trust fund for prince william or paris hilton. It is the executors" responsibility to delegate in a will, until everyone is raised. Contract between settler (rich guy), and trustee (executor), saying here is the money, take care of it with these instructions. Therefore, if they misuse it, beneficiary has the right to sue. Land public registry system if your deed is not registered there, you don"t own it. If you want land to affect the subsequent owners of the land, then you must register it on the registry this controls every subsequent owner whether they have signed the original contract or not. It lets more people sue, than are in the contract, because it"s in the public registry system. Contracts stem from way back and are subsequently added to present.
