Section 4.32 Personal Property Contracts

• Library: Contracts 2016 Supp

2. (§4.32) Personal Property Contracts

The general rule in Missouri is that courts of equity will not award specific performance of a contract for the sale of personal property except under exceptional circumstances, as when a unique chattel is involved, such as heirlooms, antiques, works of art, portraits, and other articles that possess sentimental significance, or when a statute permits specific performance. Koelling v. Bank of Sullivan, 220 S.W.2d 794 (Mo. App. E.D. 1949); Rice v. Griffith, 161 S.W.2d 220 (Mo. 1942). The theory underlying this general rule is that, except in instances when the subject matter of the contract is personalty that is not bought and sold with some frequency in the market, the remedy at law is adequate, by way of an action for damages for breach of contract. Id. Applying this theory, some courts have ordered specific performance of chattel sale contracts when like property cannot readily be purchased in the market within the time contemplated for delivery in the contract. Boeving v. Vandover,218 S.W.2d 175 (Mo. App...