37. Equity and Specific Performance. Originally, at common law in England, the king and his subordinates heard suits. Certain specified actions or remedies, only, were allowed. It was soon observed that many complaints were made, and disputes arose, which did not come within the scope of these common law actions. The king appointed a chancellor to assist him. It was the duty of the chancellor to hear disputes, not within the scope of the recognized common law action, and to determine and decide these upon equitable principles. This court became known as the court of chancery, or court of equity. A regular system of courts of chancery grew up in England, with fixed rules of procedure and of recovery. This country has Courts of Equity. In many states, the same judge sits as a court of law, and of equity. Equity does not hear cases where there is a complete and adequate remedy at law. Equity courts have a judge only, and no jury. Courts of equity sometimes specifically enforce contracts in case there is no adequate remedy at law. For example, A purchases a lot of B in a particularly desirable locality. There is no other vacant lot near it. In case B, refuses to carry out his contract, by conveying this lot to A, equity will compel B to convey the lot to A. Here A has no adequate remedy at law. Money damages will not enable him to procure what he contracted for.
Specific performance is rarely granted in case of sales of personal or chattel property. There are a few exceptions. If A purchases "Maud S." from B for ten thousand dollars ($10,000.00), "Maud S." being a two minute race horse, purchased for breeding purposes, and B refuses to deliver her, a court of equity might grant specific performance. Money damages might not enable A to purchase a similar horse. The same principle applies in case of purchases of rare works of art.
While a contract for personal services cannot be specifically enforced by a court of equity, some relief may be granted by injunction. For example, A, an actress, agrees to perform for one year for B and later refuses. While a court manifestly cannot compel A to perform for B, it will by injunction prevent her performing for others.
38. Forms of Contracts. The following is a form of simple contract.
Chicago, Ill., June 23, 1909.
Contract entered into this.... day of........ 1909, by and between A, the first party, and B, the second party.
In consideration of the promises hereinafter made by the second party, the first party agrees........ (here state first party agreement).
In consideration of the promises of the first party, the second party agrees........ (here state agreement of second party).
Signed............. First Party.
Signed............. Second Party.
The following is a form of a formal contract.