Which term describes the right to compel a party to fulfill their contractual obligations?

The term that describes the right to compel a party to fulfill their contractual obligations is specific performance. This legal remedy is often sought in situations where monetary damages would not be sufficient to resolve a breach of contract. For example, in real estate transactions, if a seller refuses to sell a property as previously agreed upon, the buyer may seek specific performance to compel the seller to complete the transaction as outlined in the contract, rather than just seeking financial compensation for the breach. Specific performance is particularly relevant in cases where the subject matter of the contract is unique, such as real estate, where no two properties are identical, making monetary damages an inadequate remedy.

Other options, although related to contractual obligations in some contexts, do not capture the essence of compelling performance directly. Damages refer to monetary compensation awarded for loss or injury due to a breach, cancellation involves terminating a contract rather than enforcing it, and negotiation pertains to the process of discussing terms rather than enforcing existing obligations. Therefore, specific performance is the most accurate term for compelling adherence to a contract.