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Hensley-O'Neal v. Metropolitan National Bank
Missouri Court of Appeals
297 S.W.3d 610 (2009)
In 1996, Greg Hensley and Tanya Hensley-O’Neal (plaintiff) signed a contract granting Tanya, as well as her heirs and assigns, the right of first refusal to purchase Greg’s property if Greg ever decided to sell. The contract stated that this right was binding upon Greg’s executors, heirs, successors, and assigns. In 2002, the property was foreclosed upon. Metropolitan National Bank (defendant) bought the property at the foreclosure sale. In 2008, the bank agreed to sell the property to a third party. Tanya brought suit, seeking specific performance of the contract containing her right of first refusal. The trial court granted the bank’s motion for summary judgment on the ground that the right of first refusal was void under the rule against perpetuities. Tanya appealed.
Rule of Law
Holding and Reasoning (Bates, J.)
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