CJ Jouhal
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An Entrepreneur that leverages technology to grow and enhance a business. A Technologist that understands business and entrpreneurship and makes technology facilitate the business model.

These are my ramblings about business, technology, startups and whatever else.

Right Of First Offer Agreement Template

An initial offer right is a contractual obligation that allows the right holder to acquire an asset before the owner attempts to sell it to someone else. If the rights holder is no longer interested in the property, the seller may sell it to a third party. The right of the first offer is an agreement that, if an owner is willing to sell or lease an asset, the holder of the right of the first offer has the first chance to buy or lease the property within a specified period of time. Once the offer holder has made the offer, the seller can accept or decline the offer. If the seller objects, he can switch to an offer from a third party. The courts, as in Spatz v. North Lincoln Corp., are able to strictly impose a provision within the response time. In Spatz, after finding that the tenant had not exercised his right to a first offer during the indicated response period, the court found that the right had expired.

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