prawo pierwszeństwa do zakupu

English translation: right of first refusal

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Polish term or phrase:prawo pierwszeństwa do zakupu
English translation:right of first refusal
Entered by: Frank Szmulowicz, Ph. D.

15:18 Nov 30, 2013
Polish to English translations [PRO]
Bus/Financial - Law: Contract(s)
Polish term or phrase: prawo pierwszeństwa do zakupu
m. Kupujący zobowiązany jest pisemnie zawiadomić Sprzedającego o zamiarze sprzedaży prowadzonej przez siebie działalności dystrybucyjnej najpóźniej na 6 m-cy przed zawarciem definitywnej umowy sprzedaży i udziela mu niniejszym prawa pierwszeństwa do jej zakupu.
Alex Sonnenb (X)
Poland
Local time: 10:19
right of first refusal
Explanation:
This is what proz wisdom suggests.

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Note added at 3 mins (2013-11-30 15:21:49 GMT)
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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.
http://en.wikipedia.org/wiki/Right_of_first_refusal
Selected response from:

Frank Szmulowicz, Ph. D.
United States
Local time: 05:19
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1priority right to purchase
Ewelina Hoare
3right of first refusal
Frank Szmulowicz, Ph. D.
Summary of reference entries provided
Priority Right vs the Right of First Refusal
mike23

  

Answers


2 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
priority right to purchase


Explanation:
grant priority right to purchase

Ewelina Hoare
United Kingdom
Local time: 09:19
Specializes in field
Native speaker of: Native in PolishPolish
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
agree  mike23: I think so. It seems kind of safer to use it if understood in terms of the Polish law. RFR might be ok too, it's possible
23 mins
  -> thank you for the clarification :)
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2 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
right of first refusal


Explanation:
This is what proz wisdom suggests.

--------------------------------------------------
Note added at 3 mins (2013-11-30 15:21:49 GMT)
--------------------------------------------------

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.
http://en.wikipedia.org/wiki/Right_of_first_refusal

Frank Szmulowicz, Ph. D.
United States
Local time: 05:19
Works in field
Native speaker of: Native in EnglishEnglish, Native in PolishPolish
PRO pts in category: 510
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Reference comments


19 mins peer agreement (net): +1
Reference: Priority Right vs the Right of First Refusal

Reference information:
Basic differences:

The main difference between the priority right and the right of first refusal boils down to when the right is exercised. The holder of a priority right exercises it before any agreement is signed, whereas with the right of first refusal is exercised after concluding a conditional agreement.

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Right of first refusal (prawo pierwokupu)
The right of first refusal (prawo pierwokupu) is set out in Article 596 et seq. of the Civil Code. It is the right of a specified person to be able to purchase property in case the owner intends to sell it to a third party. In the case of shares, a shareholder who intends to sell its shares to a third party is obliged to conclude a conditional share purchase agreement, then the shareholder must offer eligible shareholders the right of first refusal to purchase shares under the same conditions as set out in the conditional agreement entered into with a third party.

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Priority right (prawo pierwszeństwa)
Under Article 182 of the Commercial Companies Code, shareholders may make the transfer of shares dependent on the company’s consent, or restrict it in other ways. One way to limit the sale of shares is using the priority right (prawo pierwszeństwa), which is not defined in the Code of Commercial Companies or in the Civil Code. Therefore, it is assumed that the priority right means the possibility of existing shareholders acquiring shares if one of the shareholders intends to sell them. In this case, the selling shareholder is required (even before concluding a share purchase agreement) to invite the entitled shareholders to exercise their priority right to submit offers to purchase the shares. This opens the deadline to the existing shareholders to submit offers to purchase the shares, and may lead to the conclusion of a share purchase agreement if the seller accepts the terms offered.


    Reference: http://www.warsawvoice.pl/WVpage/pages/article.php/25150/art...
mike23
Poland
Specializes in field
Native speaker of: Native in PolishPolish
PRO pts in category: 327

Peer comments on this reference comment (and responses from the reference poster)
agree  Frank Szmulowicz, Ph. D.: Your knowledge is encyclopedic.
3 hrs
  -> Thanks. It's not exactly mine, but I have to respect it, and it's just a click away, so why not use it? Cheers!
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