Template:Transaction injunctions: Difference between revisions

Take the failure to meet a re-delivery obligation under a [[stock loan]]. The security in question has an observable price, by which  you can track your loss in not having it delivered on time. You may incur financing costs while you wait; you may be bought in by your own counterparties further down the line: all these are reasonably foreseeable consequences of non-performance. so foreseeable, in fact, that they are enshrined in the very terms of the {{gmsla}}. There is no need to go to the court for damages, let alone equitable relief: you may buy in your self, and pass the costs to your counterparty. The contract says so in black and white. but more to the point, a counterparty who has failed — assuming it has not simply forgotten — will have failed for a simple reason. It hasn’t got the security in question, and it can’t locate it in the market. These things happen from time to time. ''So what good is an [[equitable injunction]] compelling a poor fellow to [[Specific performance|perform an obligation]] to deliver a security she plainly does not have?