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Right of first refusal. 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. A first refusal right must have at least three parties ...
A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [1] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the seller ...
Droit du seigneur[ a] ('right of the lord'), also known as jus primae noctis[ b] ('right of the first night'), sometimes referred to as prima nocta[ c], was a supposed legal right in medieval Europe, allowing feudal lords to have sexual relations with any female subject, particularly on her wedding night. There are many references to the custom ...
A first-look deal is any contract containing a clause granting, usually for a fee or other consideration that covers a specified period of time, a pre-emption right, right of first refusal, or right of first offer (also called a right of first negotiation) to another party, who then is given the first opportunity to buy outright, co-own, invest in, license, etc., something that is newly coming ...
e. The rule against perpetuities is a legal rule in common law that prevents people from using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long beyond the lives of people living at the time the instrument was written. Specifically, the rule forbids a person from creating future ...
The first (“full” tag-along right) allows the minority shareholder to sell all of their shares in the event of a transaction between the majority shareholder and a third party. The second (“ pro-rata ” tag-along right) forces the majority holder to reduce the amount of equity it wants to sell and provide the minority an opportunity to ...
Sections 146 and 147 of the Act force an owner of Māori land who wishes to alienate their interest in the land to give right of first refusal to people belonging to "preferred classes of alienees". [2] These preferred classes include whanaunga (blood relations) [3] of the owner, other current owners, and members of the owner's hapu. [4]
From 2015, non-FIBA Europe players have also been included, since they are within the collective agreement and therefore may be subject to the right of first refusal. [3] The players that appear in the list of not subject to the right of first refusal are totally free to sign for the club they wish at the end of their contract. Some of them ...
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