Pandelani is a farmer just outside East London and he is interested in buying another tractor but can only afford a second hand one. He comes across an advert placed in the Farmer’s Weekly magazine by Wouter, who resides in Gqeberha, to sell his second‐hand John Deere CX60. Pandelani emails Wouter to enquire about the availability of the tractor and Wouter replies that it is still available, after which Pandelani makes an offer. Wouter emails Pandelani his letter of acceptance on the 20th May 2019. Wouter’s email enters Pandelani’s Gmail account also on the 20th May 2019. On the 25th May 2019, Pandelani logs into his Gmail account while at a prestigious sheep auction in Bloemfontein and reads Wouter’s email of acceptance. Explain the difference in legal consequences between an option and a right of first refusal.
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Pandelani is a farmer just outside East London and he is interested in buying another tractor but can only afford a second hand one. He comes across an advert placed in the Farmer’s Weekly magazine by Wouter, who resides in Gqeberha, to sell his second‐hand John Deere CX60. Pandelani emails Wouter to enquire about the availability of the tractor and Wouter replies that it is still available, after which Pandelani makes an offer. Wouter emails Pandelani his letter of acceptance on the 20th May 2019. Wouter’s email enters Pandelani’s Gmail account also on the 20th May 2019. On the 25th May 2019, Pandelani logs into his Gmail account while at a prestigious sheep auction in Bloemfontein and reads Wouter’s email of acceptance.
Explain the difference in legal consequences between an option and a right of first refusal.