Contracts
A Wyoming commercial purchase agreement contains a 'right of first refusal' clause for the tenant. This means:
AThe tenant has the right to refuse all lease renewals
BIf the owner decides to sell, the tenant has the right to match any bona fide offer before the owner sells to a third party✓ Correct
CThe tenant can refuse to vacate when the property is sold
DThe first tenant to apply gets the right to purchase the property
Explanation
A right of first refusal (ROFR) gives the holder (often a tenant) the right to purchase a property if the owner decides to sell, by matching any bona fide offer made by a third party. This is different from an option, which gives the right to buy at a pre-set price regardless of what offers are made.
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