Contracts Keyed to Murray
Knott v. Racicot
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- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
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- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
A property owner and a tenant entered into an option contract for the sale of the owner’s property. The contract was executed under seal and granted the tenant a right of first refusal on the property. Knott (Plaintiff), who wished to purchase the property, sued to invalidate the tenant’s right of first refusal, arguing that the agreement between the property owner and the tenant lacked consideration. The lower court held that consideration is not required for a contract executed under seal, and the court of appeals affirmed. Plaintiff appealed.
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