Kanavos v. Hancock Bank & Trust Co.

This appeal presents two basic questions. First, if, for valid consideration, the owner of stock in a corporation has agreed to give A the opportunity to purchase that stock at the price at which the owner intends to sell it to another in the future (a right of first refusal) but the owner instead sells the stock to a third party without giving A the opportunity to match the third party’s offer and thus acquire the stock, does A’s right to recover in an action for breach of contract in any way depend on whether A had the financial ability to purchase the stock during the relevant time?…