Contracts
A New Mexico seller gives a buyer 'first right of refusal' on a property they own. The buyer later finds out the seller sold to a third party without notifying the buyer. The buyer may:
ADo nothing because they didn't make an offer
BSue the seller for breach of the right of first refusal agreement✓ Correct
CAsk the NMREC to rescind the sale
DOnly recover their legal fees
Explanation
A right of first refusal is a contractual right. If the seller violated it by selling to a third party without giving the holder a chance to match, the holder can sue for breach of contract—potentially for damages or rescission.
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