McCoy v. McCallum
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The Supreme Court affirmed the judgment of the circuit court determining that an offer from Dakota Legends Properties, LLP (DLP) was a bona fide offer that triggered Plaintiffs' right of first refusal to purchase the property, that Plaintiffs had been offered the right of first refusal, and that Plaintiffs did not exercise that right, holding that there was no error.
Defendant entered into a lease agreement with Plaintiffs that gave Plaintiffs a right of first refusal to purchase the leased property at the same price and terms of any bona fide offer. After receiving an offer from DLP, Defendant notified Plaintiffs of the offer. Plaintiffs made two offers on the property, which Defendant rejected in favor of DLP's offer. Litigation followed, and the parties filed cross-motions for partial summary judgment about whether DLP's offer was "bona fide." The circuit court granted summary judgment in favor of Defendant, concluding that DLP's offer was a bona fide offer and that Plaintiff had not exercised her right of first refusal. The Supreme Court affirmed, holding that the circuit court's conclusions of law were without error.
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