Kanavos v. Hancock Bank and Trust Co.

Hancock Bank and Trust Co. (defendant) gave Kanavos (plaintiff) a right of first refusal to buy all the stock in an apartment building, along with a written promise to pay Kanavos $40,000 if he gave up that right, plus a sixty-day window to match any third-party offer. Hancock then sold the stock to a third party without ever notifying Kanavos or giving him the chance to match the price. Kanavos won a jury verdict, and on appeal Hancock argued the jury should have been instructed to consider whether Kanavos was actually ready, willing, and able to finance the purchase before the sixty-day window closed.