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Pre-emption rights
Pre-emption rightsWhere a company proposes to issue new shares, existing shareholders may have the right to be offered a pro-rata part of the new shares before they are offered to a new shareholder. These pre-emption rights may be disapplied either generally or in relation to a particular new issue by a provision in the Articles of Association or a special resolution. In relation to sales of existing shares, similar rights require a shareholder wishing to sell shares to offer them first to existing shareholders before being able to transfer to outsiders. RELATED TERMS-------------------------------------- Company An association of a number of individuals for the purpose of carrying on some legitimate business. Issue 1) Kindred. This term is of very extensive import, in its most enlarged signification, and includes all persons who have descended from a common ancestor. But when this word is used in a will, in order to give effect to the testator's intention it will be construed in a more restricted sense than its legal import conveys. 2) Pleading. An issue, in pleading, is defined to be a single, certain and material point issuing out of the allegations of the parties, and consisting, regularly, of an affirmative and negative. In common parlance, issue also signifies the entry of the pleadings. Right 1) Sometimes it signifies a law, as when we say that natural right requires us to keep our promises, or that it commands restitution, or that it forbids murder. In our language it is seldom used in this sense. 2) It sometimes means that quality in our actions by which they are denominated just ones. This is usually denominated rectitude. 3) It is that quality in a person by which he can do certain actions, or possess certain things which belong to him by virtue of some title. In this sense, we use it when we say that a man has a right to his estate or a right to defend himself. Pre-emption International law. The right of preemption is the right of a nation to detain the merchandise of strangers passing through her territories or seas, in order to afford to her subjects the preference of purchase. Relation 1) Civil law. The report which the judges made of the proceedings in certain suits to the prince were so called. 2) Contracts, construction. When an act is done at one time, and it operates upon the thing as if done at another time, it is said to do so by relation. Provision 1) Common law. The property which a drawer of a bill of exchange places in the hands of a drawee; as, for example, by remittances, or when the drawee is indebted to the drawer when the bill becomes due, provision is said to have been made. Acceptance always presumes a provision. 2) French law. An allowance granted by a judge to a party for his support; which is to be paid before there is a definitive judgment. In a civil case, for example, it is an allowance made to a wife who is separated from her hushand. Articles 1) A division in some books. In agreements and other writings, for the sake of perspicuity, the subjects are divided into parts, paragraphs, or articles. 2) Ecclesiastical law. A complaint in the form of a libel, ex hibited to an ecclesiastical court. Association The act of a number of persons uniting together for some purpose; the persons so joined are also called an association. Special That which relates to a particular species or kind, opposed to general; as special verdict and general verdict; special imparlance and general imparlance; special jury, or one selected for a particular case, and general jury; special issue and general issue, &c. Resolution 1) A solemn judgment or decision of a court. This word is frequently used in this sense, in Coke and some of the more ancient reporters. It also signifies an agreement to a law or other thing adopted by a legislature or popular assembly. 2) Civil law. The act by which a contract which existed and was good, is rendered null. Offer Contracts. A proposition to do a thing. An offer ought to contain a right, if accepted, of compelling the fulfilment of the contract, and this right when not expressed, is always implied. Transfer Contracts The act by which the owner of a thing delivers it to another person, with the intent of passing the rights which he has in it to the latter. SIMILAR TERMS-------------------------------------- Pre-emption International law. The right of preemption is the right of a nation to detain the merchandise of strangers passing through her territories or seas, in order to afford to her subjects the preference of purchase. Pre-inspection Complete immigration inspection of airport passengers before departure from a foreign country. No further immigration inspection is required upon arrival in the United States other than submission for nonimmigrant aliens. PREVIOUS AND NEXT TERMS-------------------------------------- Precludi non Pleading. A technical allegation contained in a replication which denies or confesses and avoids the plea. Precognition Scotch law. The examination of witnesses who were present at the commission of a criminal act, upon the special circumstances attending it, in order to know whether there is ground for a trial, and to serve for direction to the prosecutor. But the persons examined may insist on having their declaration cancelled before thev give testimony at the trial. Precontract An engagement entered into by a person, which renders him unable to enter into another; as a promise or covenant of marriage to be had afterwards. When made per verba de presenti, it is in fact a marriage, and in that case the party making it cannot marry another person. Predecessor One who has preceded another. Pre-emption International law. The right of preemption is the right of a nation to detain the merchandise of strangers passing through her territories or seas, in order to afford to her subjects the preference of purchase. Pre-emption rights Prefect French law. A chief officer invested with the superintendence of the administration of the laws in each department. Preference The paying or securing to one or more of his creditors, by an insolvent debtor, the whole or a part of their claim, to the exclusion of the rest. By preference is also meant the right which a creditor has acquired over others to be paid first out of the assets of his debtor, as, when a creditor has obtained a judgment against his debtor which binds the latter's land, he has a preference. Preferred maritime lien A category of maritime lien under the American Commercial Instruments and Maritime Liens Act. Preferred mortgage A ship mortgage on the whole of a vessel, filed in the U.S. in substantial compliance with the requirements of U.S. Code. Preferred mortgage lien A lien on a ship on which a preferred mortgage has been filed. they rank after preferred maritime liens (supra), by virtue of U.S. Code. We thank you for using the Juridical Dictionary to search for Pre-emption rights. If you have a better definition for Pre-emption rights than the one presented here, please let us know by making use of the suggest a term option. This definition of Pre-emption rights may be disputed by other professionals. Our attempt is to provide easy definitions on Pre-emption rights and any other medical topic for the public at large.
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