Option Rights and Preemptive Rights in Contracts

Contracts can have option rights or preemptive rights. An option, in the context of real estate, usually gives a person a power to compel the owner of the property to sell it at a stipulated price whether or not he or she is willing to part with ownership. Anderson v. Parker, 351 S.W.3d 82, 831 (Mo. Ct. App. 2011). A preemptive right, on the other hand, gives a prospective purchaser the right to decide whether to buy the property before all others should the seller decide to sell. Venture Stores, Inc. vv. Pacific Beach Co., Inc., 980 S.W.2d 176, 184 (Mo. Ct. App. 1998).
Contact with questions about contracts, breach of contract, option rights and/or preemptive rights.

Related Articles

Tortious Interference: “Improper Means”

August 23, 2023

Tortious interference with business expectancies or contractual relations claims are difficult to make. Tortious interference in Missouri has five elements: (1) the plaintiff was involved in a valid business relationship; (2) the defendant was aware of that relationship; (3) the defendant intentionally interfered with that relationship, inducing its termination; (4) the defendant acted without justification; and…

Read More

Abandoned Pleadings

August 2, 2023

Once a pleading — whether it be a petition, answer, etc. —  is amended the prior iteration of the pleading is considered “abandoned.” Unless the subsequent pleading adopts or incorporates the contents of a prior pleading, the abandoned pleadings is largely irrelevant. In no uncertain terms, Missouri courts have described it as a “mere scrap…

Read More

Appealing Dismissals Without Prejudice

July 28, 2023

The default rule is that only judgments on the merits or dismissals with prejudice may be appealed. Dismissals without prejudice mean that the litigant can re-plead and pursue the claims; so, the court of appeals is often reluctant to touch a dismissal without prejudice until the trial court had made a final decision. To that end, there…

Read More

Strict Construction, Implied Authority to Act as Attorney-in-Fact

July 14, 2023

Power of attorney instruments are “strictly construed.” In re Estate of Lambur, 397 S.W.3d 54, 65 (Mo. App. S.D. 2013). While the definition of strict construction varies depending on who you ask, most agree that it calls for a more narrow, literal interpretation of a document. A strict construction, though, does not preclude “implied authority to…

Read More
Scroll to Top