Contracts
In NC, the right of 'first refusal' in a real estate context gives a party:
AThe right to refuse any offer on the property
BThe right to match a third party's offer before the owner accepts it✓ Correct
CPriority access to make an offer before the property is publicly marketed
DThe right to purchase the property at a predetermined price
Explanation
A right of first refusal (ROFR) gives the holder the right to purchase the property by matching any bona fide third-party offer the seller is willing to accept. The holder must decide whether to exercise the right within the specified time after being notified of the offer.
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