Ace Equipment Company, Inc. (Ace Equipment) (plaintiff) offered in writing to purchase a used 6000 KVA General Electric Transformer (transformer) from Aqua Chem, Inc. (Aqua Chem) (defendant) for the price of $1,800. Aqua Chem accepted Ace Equipment’s offer in writing. Ace Equipment also contracted to sell the transformer to a third party, Frank Lunney, for the price of $7,500. However, when Ace Equipment arranged for the transformer to be loaded onto a truck for delivery to Lunney, Aqua Chem refused to allow the truck to leave and retained possession of the transformer. Ace Equipment alleged that this refusal was wrongful and made without prior notice to Ace Equipment. Ace Equipment then filed a complaint in equity, seeking specific performance because Ace Equipment had an obligation to deliver the transformer to Lunney and faced consequential damages for not doing so. Aqua Chem made preliminary objections on the ground that Ace Equipment had a complete and adequate remedy at law for money damages and therefore could not bring an action in equity.