Law Dictionary

right of first refusal

right of first re·fus·al \-ri-ˈfyü-zəl\
  1. :  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

Seen and Heard

What made you want to look up right of first refusal? Please tell us where you read or heard it (including the quote, if possible).


to criticize severely

Get Word of the Day daily email!