Practice question
An owner decides not to sell the property at all. The holder of a standard right of first refusal, with no separate obligation compelling a sale, demands immediate transfer at a price the holder chooses. Is the right alone sufficient?
- Yes, it gives unlimited power to force any sale
- No, priority if the owner decides to sell is not itself an unconditional duty to sell at the holder's chosen price
- Yes, because every refusal right fixes a price automatically
- Yes, if the holder sends any letter
- No, because rights of first refusal can never be enforced
Legal references
- Equatorial Realty Development v. Mayfair Theater, GR 106063, November 21, 1996, main decision: https://lawphil.net/judjuris/juri1996/nov1996/gr_106063_1996.html
- Riviera Filipina v. Court of Appeals, GR 117355, April 5, 2002, main decision: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/1/50682
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