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right of first offer

French translation: My interpretation and the same CCIM source as above

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07:24 Oct 28, 2001
English to French translations [PRO]
Bus/Financial
English term or phrase: right of first offer
Dans l'article cocnerant la proposition de cession d'actions par un actionnaire à uen erpsonne autre qu'un affilié de celuic-i... il doit offriri ses actions à un autre Actionnaire..
J'ai l'impression qu'il s'agit du droit de préemption - donc right of first refusal serait identiqiue à right of first offer ??
Sylvie André
France
Local time: 22:10
French translation:My interpretation and the same CCIM source as above
Explanation:
Logically speaking, right of first refusal is not quite the same as right of first offer.

A right of first refusal is when X answer’s to an offer made by Y.
A right of first offer is when X is the first person in a queue of people who are putting forward an offer.
In short, there is a difference between refusing someone else’s offer and putting forward your own.

Here is a better explanation, a slighty more legal sounding one too !


http://www.ccim.com/JrnlArt/20010805.htm

Commercial Investment Real Estate
July/August 2001 Legal Briefs
Word Rights and Options Provisions Carefully to Avoid Contract Confusion
by Carol C. Honigberg, JD, and Ellen Farrell Sharpe, JD
Avoiding imprecise language is immensely important when drafting documents for property sales or leases. This especially is true when dealing with options to purchase, rights of first offer, and rights of first refusal. While most real estate professionals understand the practical distinctions among these provisions, many do not perceive the differences in the legal language that defines them.
Too often, rights of first offer and rights of first refusal are discussed as interchangeable provisions or are confused with options to purchase. The failure of parties to use the correct language to grant the desired options or rights in contracts or leases can lead to disastrous consequences.
Clarifying the Concepts
Although the language used to define them is similar, an option to purchase, a right of first offer, and a right of first refusal are distinctly different legal concepts.
Option to Purchase. This provision grants the holder the right to purchase an indicated property during the term of the option without respect to the owner’s desire to sell. In other words, the holder can force the owner to sell the property by exerting the option. Options to purchase often include specific terms such as a purchase price; however, inclusion of such terms does not necessarily mean that an option to purchase exists.
Right of First Offer. Sometimes referred to as a right of first opportunity or first right to purchase, this provision requires the owner to give the holder the first chance to buy a property after the owner decides to sell. Unlike the option to purchase, the holder cannot force the owner to sell.
Right of First Refusal. This provision grants the holder the right to see any bona fide third-party offers the owner has received on a property. The holder can match the terms of the third-party deal and purchase the property or pass on the deal. Rights of first refusal tend to be the most problematic for owners. Third parties easily are discouraged from considering a purchase because the holder can buy the property under the terms that the third party put together.
Unlike options to purchase, rights of first offer and rights of first refusal also can be used to obtain lease expansions or other rights not involving property sales.
Cases in Point
Three recent court cases illustrate the need for precision in drafting and administering these three provisions: the Colorado Court of Appeals case of Stuart v. D’Ascenz, the Nebraska Supreme Court case of Winberg v. Cimfel, and the Texas Court of Civil Appeals case of Sanchez v. Dickinson.
[…]
Selected response from:

Nikki Scott-Despaigne
Local time: 22:10
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1n'est-ce pas de le droit de "préemption"xxxohlala
5 +1droit de faire une offre avant toute autre personneUmit Altug
5L'horreur!!!!
Nikki Scott-Despaigne
3My interpretation and the same CCIM source as above
Nikki Scott-Despaigne


  

Answers


26 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
n'est-ce pas de le droit de "préemption"


Explanation:
Revoyez votre texte s'il vous plait en français vous avez beaucoup de fautes !
concernant et non cocnerant, mais plutôt relatif ou autre synonyme
une personne
celui-ci
il doit offrir
à un autre actionnaire


xxxohlala
Native speaker of: Native in FrenchFrench, Native in RussianRussian
PRO pts in pair: 247

Peer comments on this answer (and responses from the answerer)
agree  Umit Altug
5 mins
Login to enter a peer comment (or grade)

34 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
droit de faire une offre avant toute autre personne


Explanation:
Right of first offer and right of regfusal are also different. Right of first offer requires the owner to give the holder the first chance to buy a property after the owner decides to sell. Right of first refusal grants the holder the right to see any bona fide third-party offers the owner has received on a property. The holder can match the terms of the third-party deal and purchase the property or pass on the deal.


    Reference: http://www.ccim.com/JrnlArt/20010805.htm
Umit Altug
Local time: 00:10
Native speaker of: Turkish
PRO pts in pair: 1

Peer comments on this answer (and responses from the answerer)
agree  Nikki Scott-Despaigne
7 hrs
Login to enter a peer comment (or grade)

7 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
My interpretation and the same CCIM source as above


Explanation:
Logically speaking, right of first refusal is not quite the same as right of first offer.

A right of first refusal is when X answer’s to an offer made by Y.
A right of first offer is when X is the first person in a queue of people who are putting forward an offer.
In short, there is a difference between refusing someone else’s offer and putting forward your own.

Here is a better explanation, a slighty more legal sounding one too !


http://www.ccim.com/JrnlArt/20010805.htm

Commercial Investment Real Estate
July/August 2001 Legal Briefs
Word Rights and Options Provisions Carefully to Avoid Contract Confusion
by Carol C. Honigberg, JD, and Ellen Farrell Sharpe, JD
Avoiding imprecise language is immensely important when drafting documents for property sales or leases. This especially is true when dealing with options to purchase, rights of first offer, and rights of first refusal. While most real estate professionals understand the practical distinctions among these provisions, many do not perceive the differences in the legal language that defines them.
Too often, rights of first offer and rights of first refusal are discussed as interchangeable provisions or are confused with options to purchase. The failure of parties to use the correct language to grant the desired options or rights in contracts or leases can lead to disastrous consequences.
Clarifying the Concepts
Although the language used to define them is similar, an option to purchase, a right of first offer, and a right of first refusal are distinctly different legal concepts.
Option to Purchase. This provision grants the holder the right to purchase an indicated property during the term of the option without respect to the owner’s desire to sell. In other words, the holder can force the owner to sell the property by exerting the option. Options to purchase often include specific terms such as a purchase price; however, inclusion of such terms does not necessarily mean that an option to purchase exists.
Right of First Offer. Sometimes referred to as a right of first opportunity or first right to purchase, this provision requires the owner to give the holder the first chance to buy a property after the owner decides to sell. Unlike the option to purchase, the holder cannot force the owner to sell.
Right of First Refusal. This provision grants the holder the right to see any bona fide third-party offers the owner has received on a property. The holder can match the terms of the third-party deal and purchase the property or pass on the deal. Rights of first refusal tend to be the most problematic for owners. Third parties easily are discouraged from considering a purchase because the holder can buy the property under the terms that the third party put together.
Unlike options to purchase, rights of first offer and rights of first refusal also can be used to obtain lease expansions or other rights not involving property sales.
Cases in Point
Three recent court cases illustrate the need for precision in drafting and administering these three provisions: the Colorado Court of Appeals case of Stuart v. D’Ascenz, the Nebraska Supreme Court case of Winberg v. Cimfel, and the Texas Court of Civil Appeals case of Sanchez v. Dickinson.
[…]


Nikki Scott-Despaigne
Local time: 22:10
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 882
Login to enter a peer comment (or grade)

7 hrs   confidence: Answerer confidence 5/5
L'horreur!!!!


Explanation:
Que fait l'apostrophe dans "answer'" - aah! Sorry.


Nikki Scott-Despaigne
Local time: 22:10
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 882
Login to enter a peer comment (or grade)




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