ContractsOption_contracts_and_right_of_first_refusalMEDIUM
A right of first refusal holder declines to match a third-party offer of $400,000. What happens next?
Correct Answer
A) The owner is free to sell to the third party at the offered terms
Once the right-of-first-refusal holder declines to match the offer, the owner is free to sell to the third party at those terms.
Answer Options
A
The owner is free to sell to the third party at the offered termsB
The holder retains the right to buy at a lower priceC
The owner cannot sell to anyoneD
The holder receives a commission for decliningWhy This Is the Correct Answer
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