He looks at her hand for a moment, considering, but doesn't take it. But he doesn't wish to insult her (mostly because he fears retaliation from Cardinal Borgia, but also because she's being relatively civil to him and it's a nice change of pace), so he stands on his own, ducking his head a little in a very informal, semi-apologetic bow. It wouldn't be proper to take her hand, see! That's all that means. Really.

His head still lowered, he looks up at her from under his browbone, curious. "And if I refuse? What then?"