Webster Trust v. Roly

Opinion

SULLIVAN, C. J.

Initially, the sole issue in this certified appeal was whether the Appellate Court properly determined that an offer to purchase land for significantly less than fair market value was a bona fide offer, so as to trigger the plaintiffs’ right of first refusal. Upon further review, however, we determine that the dispositive issue is whether the trial court acted properly in declining to order specific performance of the agreement to convey the property for a fraction of the property’s fair market value. The plaintiffs, Webster Trust1 and Pasquale Young, the trustees of a…