right of first refusal
right of first re·fus·al /-ri-'fyü-zəl/: the right to have the first opportunity to purchase property upon the owner's decision to sell at the same terms offered by a third party or at predetermined terms – called also preemptive right;

Merriam-Webster’s Dictionary of Law. . 1996.

right of first refusal
n.
Entitlement to the first opportunity to do something before the opportunity is offered to others.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


right of first refusal
Also known as a right of pre-emption. This is the right to be offered a property first, should the owner decide to dispose of it. Such a right may be agreed expressly between parties, or it may arise under statute.
A right of pre-emption will usually relate to a freehold sale, but sometimes gives the holder of the right the opportunity to take a lease of premises when and if the owner decides to let them.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


right of first refusal
=>> refusal.

Webster's New World Law Dictionary. . 2000.

Look at other dictionaries:

  • Right of first refusal — (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. In… …   Wikipedia

  • right of first refusal — The right of a person or company to purchase some thing before the offering is made to others. Bloomberg Financial Dictionary * * * right of first refusal UK US noun [S or U] (also first refusal) LAW ► the right to accept or refuse something… …   Financial and business terms

  • Right Of First Refusal — In general, the right of a person or company to purchase something before the offering is made available to others. For example, a football team may have the right of first refusal on a player s contract. This would mean they can make the first… …   Investment dictionary

  • right of first refusal —  Part of a business contract giving a company the first chance to produce or distribute a new product. In the publishing industry, a publisher frequently asks for the right of first refusal of an author’s next work …   American business jargon

  • right of first refusal — noun A provision in a contract that permits a party to that contract or another named party to have an opportunity to purchase, use, or otherwise obtain a specified object before it is offered to any other party. Well, said the publisher, does… …   Wiktionary

  • have the right of first refusal — have (the right of/to) first refusal give (someone) (the right of/to) first refusal to offer to sell someone something before you offer it to anyone else. Manfield has the right of first refusal on any surplus stock …   New idioms dictionary

  • have the right to first refusal — have (the right of/to) first refusal give (someone) (the right of/to) first refusal to offer to sell someone something before you offer it to anyone else. Manfield has the right of first refusal on any surplus stock …   New idioms dictionary

  • the right of first refusal — (the right of) first refusal : the right to accept or refuse something before it is offered to anyone else If we decide to sell the house, we ll give our tenants first refusal. [=we will offer to sell the house to our tenants before offering to… …   Useful english dictionary

  • give (someone) the right of first refusal — give (someone) (the right of/to) first refusal to offer to sell someone something before you offer it to anyone else. I have given my existing publishers first refusal on my next book. (often + on) …   New idioms dictionary

  • give (someone) the right to first refusal — give (someone) (the right of/to) first refusal to offer to sell someone something before you offer it to anyone else. I have given my existing publishers first refusal on my next book. (often + on) …   New idioms dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.