Kevin L. Shepherd
Rights of First Refusal Poison Pills and Bad Faith By Kevin L. Shepherd To exercise properly a right of first refusal, must its holder accept every term of the third party’s triggering offer, even if it contains terms that the grantor knows will be repugnaan to the holder and will discourage the holder from exercising the right of first refusal? A hypothetical fact pattern will bring this issue into sharper focus. Grace Grantor (Grantor) owns a valuable undeveloped commercial parcce of land...