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Right of first refusal
Right of first refusalA right given to a person to be the first person allowed to purchase a certain object if it is ever offered for sale. The owner of this right is the first to be offered the designated object if it is ever to be offered for sale. RELATED TERMS-------------------------------------- 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. Person This word is applied to men, women and children, who are called natural persons. Purchase In its most enlarged and technical sense, purchase signifies the lawful acquisition of real estate by any means whatever, except descent. It is thus defined by Littleton, section 12. "Purchase is called the possession of lands or tenements that a man hath by his own deed or agreement, unto which possession he cometh, not by title of descent from any of his ancestors or cousins, but by his own deed." Sale Contracts. An agreement by which one of the contracting parties, called the seller, gives a thing and passes the title to it, in exchange for a certain price in current money, to the other party, who is called the buyer or purchaser, who, on his part, agrees to pay such price. Owner Property. The owner is he who has dominion of a thing real or person-al, corporeal or incorporeal, which he has a right to enjoy and to do with as he pleases, even to spoil or destroy it, as far as the law permits, unless he be prevented by some agreement or covenant which restrains his right. SIMILAR TERMS-------------------------------------- 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. Right of discussion Scottish law. The right which the cautioner (surety) has to insist that the creditor shall do his best to compel the performance of the contract by the principal debtor, before he shall be called upon. Right of division Scottish law. The right which each of several cautioners (sureties) has to refuse to answer for more than his own share of the debt. To entitle the cautioner to this right, the other cautioners must be solvent, and there must be no words in the bond to exclude it. Right of habitation By this term, in Louisiana, is understood the right of dwelling gratuitously in a house, the property of another. Right of relief Scottish law. The right which the cautioner (surety) has against the principal debtor when he has been forced to pay his debt. Right of survivorship The right of joint owners to receive the other's share of property upon the death of the other owner. Right of way The right of a party to pass over the land of another. Right patent The name of an ancient writ, which Fitzherbert says, "ought to be brought of lands and tenements, and not of an advowson, or of common, and lieth only of an estate of fee simple, and not for him who has a lesser estate, as tenant in tail, tenant in frank marriage, or tenant for life." Right, writ of Breve de recto. Rights of conscience The constitutional declaration that "no human authority can control or interfere with the rights of conscience" refers to the right to worship the Supreme Being according to the dictates of the heart: to adopt any creed or hold any opinion on the subject of religion; and, for conscience sake, to do, or to forbear to do, any act not prejudicial to the public weal. Commonwealth v. Lesher, 17 S. & R. 160 (1827), Gibson, C.J. Rights reversion The return of copyright to an author after the termination of a specified grant of rights, according to the terms of the transfer, or under the Copyright Act. PREVIOUS AND NEXT TERMS-------------------------------------- Rien en arrere Pleading. Nothing in arrear; nothing remaining due and unpaid. Riens passa par le fait The name of a plea; it signifies that nothing pass-ed by the deed; for example, when a deed is acknowledged in court, a man cannot plead non est factum, because the act was done in court, which cannot be denied; but when the deed has been acknowledged in a court not having jurisdiction, the party may avoid the effect or operation of the deed by pleading riens passa par le fait, for this plea does not impeach the court where it was acknowledged. 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. Right of discussion Scottish law. The right which the cautioner (surety) has to insist that the creditor shall do his best to compel the performance of the contract by the principal debtor, before he shall be called upon. Right of division Scottish law. The right which each of several cautioners (sureties) has to refuse to answer for more than his own share of the debt. To entitle the cautioner to this right, the other cautioners must be solvent, and there must be no words in the bond to exclude it. Right of first refusal Right of habitation By this term, in Louisiana, is understood the right of dwelling gratuitously in a house, the property of another. Right of relief Scottish law. The right which the cautioner (surety) has against the principal debtor when he has been forced to pay his debt. Right of survivorship The right of joint owners to receive the other's share of property upon the death of the other owner. Right of way The right of a party to pass over the land of another. Right patent The name of an ancient writ, which Fitzherbert says, "ought to be brought of lands and tenements, and not of an advowson, or of common, and lieth only of an estate of fee simple, and not for him who has a lesser estate, as tenant in tail, tenant in frank marriage, or tenant for life." We thank you for using the Juridical Dictionary to search for Right of first refusal. If you have a better definition for Right of first refusal than the one presented here, please let us know by making use of the suggest a term option. This definition of Right of first refusal may be disputed by other professionals. Our attempt is to provide easy definitions on Right of first refusal and any other medical topic for the public at large.
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