honalieh
UKC Forum Member
Registered: Jul 2003
Location: PA
Posts: 2154 |
What's It Worth?
That seems irrelevant.
To me, the option to buy back only comes into play IF you decide to sell.
Price? That would depend on what you would sell it to someone else for. If you were going to sell it to someone else for $1,000, he should get first crack at that price. If you offer it back to him for $1,000, he declines, and you sell it for $1,000, all is well and good. If, on the other hand, you offered it back to him for $1,000, then sell it at a lower price, then you will have reneged on the deal.
Short of some previous agreement, the SELL option is strictly YOUR choice. If you do decide to sell, he should get first crack at the SAME price that you would sell it to someone else for.
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