Contractual Right of First Refusal Waiver via Failure to Meet Condition Precedent
Synthèse Legislator
Généré par l'IAThe appellant challenged a judgment that affirmed a prior ruling against them, stemming from a dispute over the enforcement of a contract provision related to the right of first refusal on the sale of property. The central issue was whether the appellee properly waived their right of first refusal by failing to meet a condition precedent—specifically, timely providing necessary documentation regarding financing arrangements as stipulated in the agreement. The court reasoned that the express contractual provision required the right holder to satisfy the documentation requirement within a specified timeframe to exercise the right, and because the appellant failed to provide this documentation timely, their purported exercise of the right was ineffective, thereby upholding the validity of the subsequent sale to a third party.
Regeste Legislator
Généré par l'IAArt. 66 al. 1 LTF; Contractual Right of First Refusal Waiver via Failure to Meet Condition Precedent: The central issue was whether the appellee properly waived their right of first refusal by failing to meet a condition precedent—specifically, timely providing necessary documentation regarding financing arrangements as stipulated in the agreement. The court reasoned that the express contractual provision required the right holder to satisfy the documentation requirement within a specified timeframe to exercise the right, and because the appellant failed to provide this documentation timely, their purported exercise of the right was ineffective, thereby upholding the validity of the subsequent sale to a third party.
Mots-clés
Généré par l'IADispositions légales citées
Généré par l'IADécisions connexes
Généré par l'IAQuestions juridiques clés extraites par Legislator
Généré par l'IACited in the final order regarding the allocation of procedural costs.
Texte complet
"#$%"&''$ "())"&''$
!!
* !+* , *! ,+
- . ( % / &''$
!"""#$ % !&'( ' )#("!!""*#(+('" ,
!('
% - &!''#"("! #/' '&'#)!.!/!'$ 0)'&'#)!. "!'"'#
!
75147
* 0+
""89)"'5663 '":(!' !" * &"( "'";# !(' %%% % * %% % % !( $ !("! (( '"<' )'(*'(*")""(#!&<($!&('=!(!:'566>)"( /'"(#&?
'#&!24/#)'"'5663 %@%%- 7A"'&'"%%% % * %% % % 7 /"( ''A' A (( '"<' *#("( & "("(("!&'#)!."''&'")# !'(A&"(#&!'#/' /""(#/(*&<?
*&'#"#A*A"(#'"# ')"( #(# '# &!' &'#)!. &'!/"! &'< % - % % % % , - %B C"7&'<D % E $?
%@%% - *( :("(# $ *" '' % ! !"#(# ;#'(/!("!?
%@%% - &'!&!# &' !" *#!!" &'!#' !"#'' 89)"'5663!"'";#!(' % ('A"'("/"("! !&'("#/'?
A( /! %@%% - &'< !) F !"' *'7 ")""(# *'# *( #'# "&!# $ '' !)'(' *")""(# !/!'#( !('( *'7)" !(") 5> &(:' 288> ( '<;(G(?
*!$A!"('.#'H"($'!"*!:9( ?
* &'#"# A '"' "' % ' #("( =2*22=/'I '
2 9)"' 5665 C"' !!'!# J>*38=/'IE ? A '( *")""(# *#)"( $ J6K ('"(( : *(7$7"' !'<(( &!' ' $ 5L*JJ=/'I &' # C!( 24*>JJ/'I56 ! &'#)!. &'!/"!E? A '( */( *")" *#)"( &!' &'( $ LK ('"(( : !"( &!' */( ' $ 4*3L8/'I C!( >*63L/'I86 ! &'#)!. &'!/"!E ? A '!"( F '( *")""(# ( */( *")" #M!"( $ *#M#'!"(F""(#9!'"<' !"(=!(!:'566J?A'( "(";"'"(&(#$*#)!("!&'"F(A''#';'('"( )'#)4K*"(#'G(<89)"'5663 (?
123415663 7>147 *"(''!;# ' &!"( )!"' " )"( "" !:( ("/("! ' &' !''"' > ' 5663 /"( ''A' A ! '"<' (((("!#(:"&'- % (2J/#)'"'566> !(( '(*")""(#!&#("')'"(*#)'$>6*28J/'I(" '( */( *")" $ 3*6>8/'I ? A &' "' # A ''#'; '( &!'(( "(#'G( $ &'("' 53 9)"' 5664 ( &'"<' "(')("!&'<#/'?
*"/!'# &!"("! ' %@%% - &' !''"' 2J'5663 /"(''A'A *&'( *(((("!2J/#)'"'566>*#("(& !("((")'!"(!*!:";("!(A *('&'( ('"((:#("(#; "' %A&'!'#)'"( &')!"'!'*#&'" !"#'("! *(7$7"''(A*(&'!"(*#)#(!;: *&< *# 5665 C'( A ('"(( : ' #("( =2*22=/'IE ? A*/" *;"( "(#'G( %@%% - *( #'# "&!# &' ;" &"F $ !'' < 5L 9)"' 5664 ( '#&("!&'"<'(('!"'?
&' !''"' 5L ' 5663 ' &'" ( /"( A #/'&("()''"(#'G(!'(!"'$!&('5L9)"'5664( *( #'# &'G( "'!( $ &(' A &'(("! *")""(# !"( $ !&(' ') *"&"(# (')" !( ( $ *!'";"*")""(#?
&!''& #A('":(('#&*"( !";(A"%@%%- )"(!#"($'(!&#("' *")""(#$'#539)"'5664 &'!#'*'"(&"*G('?
,+! !,+
!";)!"'N!';"("!9"""'CE#(#!"/"#("("(# < 2' !O( 566> '": (! ' !" !&!# 4 9; !(&'#"(()"7&'#"( 4&&#((239;'C'(I2(I'( 43 E?
"($N("!N#("!239;' &' '":/##' 5=9)"'566JC -2>6263E ' !";)!"!&(# 2>/#)'"' "&!"("!('"(!"'';(&'((( '":(!'!" "#;' ' $ ('!" 9; ("("' N((( N#("! !)F9;'?
*F('N'(I=>I2 MA(!#"; '":A"!+( '"<' "( (! !((("! !&&!( "("(("! &'#)!. &!.'(.('!"(?
123415663 7J147 *$ <) )'( N'(I 43 I 2 (I : N( '": (! ' !" A" !+( "( "A !((("! '(") $ &'#)!. &'!/"! !&&!( "("(("! &'#)!. &!.' ( .( '!"( .!&'"")!' ""ANF&'#(("!'&!:""(#C'(I>>2$ >>2 !" /##' >6 ' 2822 !&#(( ! ")" " P! !:";("!? Q? '(I 45 43 I 2 ( => !" /##' 54 9" 28L5 ' &'#)!. &'!/"! )"" ')")( ( ")""(#? '(I 2J5 ! ")" "26#:'286=E?
!&#('("!('" '":#(<!'#(:"?
&'"' !N'(I=>I> /!'("<;!!""" #/'!"NF&!"(("!AN'##(#;;#?
< !' AN" N( & !((# A ' (')"# $ <) !&#('("!!" '":#!"(#;(G('"?
*"!)"(&'"' *!'('&'(" '("/"'&'("#/' )( G(' "'";# !(' % - % % % % , - %B "$?
*"!)"("(&''(*;;(#/'*!''$ ''(*")""(#5L*JJ=/'I&'#C!(24*>JJ/'I56! &'#)!.&'!/"!E!'("*'(*/(*")"4*3L8/'IC!( >*63L/'I86 ! &'#)!. &'!/"!E #M#( = !(!:' 566J ) "(#'G(4K<5L9)"'5664?
)"( "" !:9( &"A ' ""A# )!"' !:(("/("!?
' A" !:("( ;" '!"( ':!'( /'" ( #&""AF!("' G!'A&'!#'(!:9( &!'((AM<&'!<9("/"(C -2264=!"I5? 28L8&I>2L!"I5:E?
((N&<<!'A#/'A"#$?
*" !)"( ! *!' #& $ ' A '!( /"F# $ -'I2*666I7?
123415663 74147 ! ,+0 !+* , *! ,+
123 4 5 67 #$& ,8
2I #''):I
5I '(*;;(#/'*!''$ '( *")""(# 5L*JJ=/'I &' # C!( 24*>JJ/'I56 ! &'#)!. &'!/"!E !'(" * '( */( *")" 4*3L8/'I C!(>*63L/'I86!&'#)!.&'!/"!E #M#(=!(!:'566J )"(#'G(4K<5L9)"'5664?
>I *.!((A:!"I
JI !#/'$)''$'!2*666/'I$("(' #&I
4I /!'&'("AN&)(/!'''!'!('&'#(''G( #" >6 9!' < !("/"("! &' &" '!# '# '": /##'' %MR"S'M!/A"3 366J ('!"F&"'I #" &( G(' &'!!;#I #!"' !"(D E ""A' F(( A #""! '!'( #"' !:("' " ( & #""! ((A#? :E F&!'&!'A!("/"("&!)!"''((('#""!?E&!'(' ";(' ! ! '&'#((I %" #!"' !("( & ('!" ##( ##'# ! ((' E :E ( E "7 '": /##' ' &!'' & ('' ("<' ' '!' AN" )' #'' "''):I #!"''!'("!'!'!.&') A"'!(9!"( "" A #""! ((A# ( N)!&& A #(# F&#"# '!'(C'(I2>5 263(26LEI ;'//"<' '#"(D "-- T'"% T
!&"!/!'&'#(''G((!("/"#F&'("""AN$N//"/##' '!"&';'//
123415663