Robroy Land Co. v. Prather

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• a right of first refusal did not create a restraint on alienation because “[t]he marketability of the property remained] unfettered”
• “option restraint is reasonable if the option price is at market or appraised value, irrespective of the duration of the option”
• a commercial agreement is presumed to inherently possess a reasonable limit on duration
• a potential buyer’s right of first refusal to purchase real property is only a contractual right that does not create an interest in land subject to the rule against perpetuities
• rule not applicable to preemptive rights

Source: CourtListener parenthetical corpus (CC0).