Seller's Prior Right of First Refusal Voids Subsequent Sale
Synthèse Legislator
Généré par l'IAA contract for the sale of a building was annulled because the seller, without reserving any rights, had previously entered into an agreement with a tenant granting them a right of first refusal on the property; the court held that this prior agreement, which was opposable to the seller's subsequent sale to a third party, constituted a lawful exercise of a contractual right that effectively prevented the completion of the second sale, justifying the nullification.
Regeste Legislator
Généré par l'IASeller's Prior Right of First Refusal Voids Subsequent Sale: A contract for the sale of a building was annulled because the seller, without reserving any rights, had previously entered into an agreement with a tenant granting them a right of first refusal on the property; the court held that this prior agreement, which was opposable to the seller's subsequent sale to a third party, constituted a lawful exercise of a contractual right that effectively prevented the completion of the second sale, justifying the nullification.