ContractsOption_contracts_and_right_of_first_refusalEASY
Marcus Hill cannot force the owner to sell now, but if the owner decides to sell and receives an outside offer, Marcus Hill gets the first chance to meet the offered terms. What right is this?
Correct Answer
C) Right of first refusal
Right of first refusal is correct because the facts match a contractual right giving one party the opportunity to match or beat a third-party offer before the owner sells to someone else. That is the best description of the relationship, right, or legal concept tested here.
Answer Options
A
ConsiderationB
OfferC
Right of first refusalD
AcceptanceWhy This Is the Correct Answer
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Related Topics & Key Terms
Key Terms:
option_contracts_and_right_of_first_refusalcontractsright_of_first_refusalpreemptive_right
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