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Right of first refusal

(Querist) 11 June 2008 This query is : Resolved 
Dear Friends

Can any one explain me the concept of right of first refusal and its legal significance. Can one party claim it eventhough such right is not specifically mentioned in the agreement.

Guest (Expert) 11 June 2008
Right of first refusal is covenant binding the parties. In the agreement in question you say that there is no covenant. In absence of such covenant, you have to search if there is any implied covenant. If nothing is found, then none can take advantage of this clause.
SATISH KUMAR (Querist) 11 June 2008
Dear Kotresh

Thank u very much for your reply. It is very valuable.
Ashey (Expert) 03 April 2009
Right of Pre emption - right of first refusal ... is a covenant to be expressed in writing ..
Hiralal Das (Expert) 06 April 2009
Thanks all of you.
I do agree with views and/or valuable opinions of our ld. members/friends.


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