right of first refusal
right of first re·fus·al
-ri-ˈfyü-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
Dictionary Entries Near right of first refusal
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“Right of first refusal.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/right%20of%20first%20refusal. Accessed 25 Nov. 2024.
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