Contract Terms, Purchase and Sale Agreements, Contract Disputes

Understanding the Right of First Refusal Clause in Real Estate Transactions

Stark & Stark on 5/15/2025

What is a right of first refusal clause in a real estate transaction? A right of first refusal, “ROFR,” may be considered a common clause seen in real estate agreements. But the effects of an ROFR can be quite harmful if...more

The Scope of "As-Is" Provisions in Your Vessel's Purchase and Sales Agreement

Holland & Knight LLP on 5/6/2025

An "as-is" provision in a purchase and sale agreement is a key component of said agreement. As such, litigation over the scope of this type of clause is noteworthy. While an ongoing dispute in the U.S. District Court for the...more

Sometimes an Offer to Purchase Is just an Offer to Purchase

Bowditch & Dewey on 4/2/2025

The question of enforceability of an offer to purchase real estate was addressed by the Massachusetts Appellate Court in McCarthy v. Young, 105 Mass. App. Ct. 203 (2025). In this case, the buyer offered to purchase real...more

Ontario Court of Appeal Clarifies Option-to-Purchase Clause

Blake, Cassels & Graydon LLP on 1/29/2025

The recent case of 1785192 Ontario Inc. v. Ontario H Limited Partnership, 2024 ONCA 775 (Ontario H Limited Partnership) demonstrates that a purchaser who fails to tender the full purchase price required under an...more

Arbitration Over Offshore Leases Does Not Warrant Lawsuit Dismissal

Gray Reed on 9/13/2022

Just because parties agree that disputes over a contract will be subject to binding arbitration doesn’t mean there won’t be wrestling at the courthouse beforehand. In LLOG Exploration Offshore, LLC v. Samson Contour Energy...more

Liquidated Damages in Purchase and Sale Agreements: Oklahoma

McAfee & Taft on 2/19/2020

A buyer and seller of real estate will often include a liquidated damages provision in the purchase and sale agreement as a means for stipulating the amount of damages the seller will receive in the event of a breach of the...more