ROMANO LAW This Q&A covers defenses to contract formation, performance, and damages. The trial court granted the motion finding that the property owners failed to comply with the right of first refusal and the right of first refusal remained in effect. The plaintiff quickly moved for a final judgment of specific performance based on its election of remedy. To establish a prima facie claim forspecificperformanceof a contract or for damages for breach of a contract, Florida law requires the plaintiff to show it was ready, willing, and able to perform the contract. In Florida, the statute of limitations for breach of contract claims is: 5 years for written contracts; 4 years for oral contracts; 1 year for specific performance of a contract (requiring a party to perform a specific action per an existing contract) Under this defense, the person or entity being accused of a breach of contract argues that the other party is not entitled to a remedy under Florida. There is a specific performance of a contract. Laches is considered an equitable defense which means that the defendant can only raise a laches defense if the plaintiff is seeking an equitable remedy. Second, the appellate court quickly rejected the property owners cunning effort to cancel the original purchase and sale contract only to enter into a new agreement at a higher price. Davis v. Joyner, 409 So. A temporary injunction will serve the public interest. [The buyer] argues that its principals personal resources are sufficient to show the company had a reasonable certainty of being able to complete the purchase, but this falls short of the binding commitment the law requires. Specific Performance 1 Elements and Case Citations Plaintiff and Defendant are parties to a contract; Plaintiff performed its obligation under the contract or is ready, willing and able to perform; Defendant refused to perform its obligation under the contract; and No adequate remedy at law exists. 2 This was the focal point of the Florida Supreme Court when then-Chief Justice R. Fred Lewis first ordered the formation of a committee to address contract and business law instructions in Breach Implied Covenant of Good Faith & Fair Dealing, Breach: 10. Waiver of Breach; Specific Performance The waiver of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other breach.