Contracts
A right of first refusal in a Rhode Island real estate transaction gives the holder the right to:
APurchase the property at any time they choose
BMatch any bona fide offer the seller receives before the seller may accept it from a third party✓ Correct
CRefuse to close without penalty
DRenegotiate the purchase price after inspections
Explanation
A right of first refusal gives the holder the opportunity to match any bona fide third-party offer before the seller may accept it, but does not obligate the holder to purchase.
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