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pravo prečeg sticanja udela

English translation: option to buy the share(s)

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Serbian term or phrase:pravo prečeg sticanja udela
English translation:option to buy the share(s)
Entered by: Victor Quero

17:54 Feb 24, 2009
Serbian to English translations [PRO]
Bus/Financial - Economics
Serbian term or phrase: pravo prečeg sticanja udela
I don't understand the meaning of the word "prečeg". It seems a genitive form of an adjective "preči", but I don't know what it means. Here is the context:

Društvo nije iskoristio pravo prečeg sticanja udela, tako da prenosilac udela može nesmetano svoj udeo preneti sticaocu udela.

Thank you.
Victor Quero
Local time: 10:24
option to buy
Explanation:
preči is the comparative form of prek -- but here, combined with pravo, it means "option": The company has not exercised its option to buy/purchase/acquire the shares.
Selected response from:

David Stephenson
United States
Local time: 04:24
Grading comment
Thank you very much!
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +3right of first refusal (on transfer to third parties)
Miomira Brankovic
5 +2option to buy
David Stephenson
4 +1option to acquire the share
Mokan


  

Answers


10 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
option to buy


Explanation:
preči is the comparative form of prek -- but here, combined with pravo, it means "option": The company has not exercised its option to buy/purchase/acquire the shares.

David Stephenson
United States
Local time: 04:24
Specializes in field
Native speaker of: English
PRO pts in category: 4
Grading comment
Thank you very much!

Peer comments on this answer (and responses from the answerer)
agree  Bogdan Petrovic
2 hrs

agree  Natasa Djurovic
3 hrs

agree  Larisa Djuvelek-Ruggiero (X)
2 days 7 hrs

disagree  Daryo: "an option to buy" is not linked to any "priority"
2360 days
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48 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
option to acquire the share


Explanation:
According to Morton-Benson dictionary "pravo preče kupovine" is : "option to buy"...

Mokan
Serbia
Local time: 10:24
Specializes in field
Native speaker of: Native in SerbianSerbian
Notes to answerer
Asker: Hvala puno! I wanted to give also 4 points to you, but it seems it's not possible :( Sorry!


Peer comments on this answer (and responses from the answerer)
agree  Larisa Djuvelek-Ruggiero (X)
2 days 6 hrs
Login to enter a peer comment (or grade)

7 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +3
right of first refusal (on transfer to third parties)


Explanation:
Your text refers to a provision of the Serbian Companies Act, which regulates the right of first refusal of company members to acquire a stake in the company before it is offered to non-members. Here is a comparative text in Serbian and English with some explanations of the term "pravo preče kupovine" or "first refusal right" in English.
Pravo prečeg sticanja udela društva
Član 126.
(1) Član društva s ograničenom odgovornošću pre nego što ponudi svoj udeo ili deo udela trećem licu koje nije lice iz člana 125. ovog zakona, dužan je da taj udeo ili deo udela ponudi društvu.
(2) Ako društvo ne iskoristi pravo prečeg sticanja u roku određenom osnivačkim aktom ili ugovorom članova društva, o čemu odluku donosi skupština članova društva, ponuda se dostavlja drugim članovima društva, u skladu sa osnivačkim aktom ili ugovorom članova društva.

Right of First Refusal on Transfer to Third Parties
Article 126
(1) Before offering to transfer his share or a part thereof to a person who is not then a member and is not a person referred to in Article 125, a transferring member must first offer it to the company.
(2) If the company does not accept such offer within the period stated therefore in the company's Articles of Association or company agreement, the decision on which is to be made by the members' meeting, the offer shall be sent to the other members of the company, in accordance with the Articles of Association or company agreement.
http://www.siepa.sr.gov.yu/files/pdf/Law on Companies_1.pdf

right of first refusal
In general, the right of a person or company to purchase something before the offering is made available to others.
Right of someone to be offered a right before it is offered to others.

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. In brief, the right of first refusal is similar in concept to a call option.
An ROFR can cover almost any sort of asset, including real estate, personal property, a patent license, a screenplay, or an interest in a business. It might also cover business transactions that are not strictly assets, such as the right to enter a joint venture or distribution arrangement.
See also
• Option (finance)
• Pre-emption right
http://www.answers.com/topic/right-of-first-refusal


right of first refusal
Definition:
1. privilege of preempting transaction: a privilege somebody has to prevent a transaction, typically a sale, lease, or sublease, by agreeing to stand in the place of one party, often the buyer or lessee. Often a condominium's or cooperative's board of directors has this right.
2. right to buy something first: the right to decide whether or not to buy something before it is offered to other potential buyers
encarta.msn.com/dictionary_561548017/right_of_first_refusal.html



Miomira Brankovic
Serbia
Local time: 10:24
Specializes in field
Native speaker of: Native in SerbianSerbian
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
agree  Mirjana Gacanovic: takodje: pre-emptive right
10 hrs
  -> Tačno, mada ima malih razlika kada se koji termin koristi. Hvala u svakom slučaju.

agree  Mira Stepanovic
1 day 5 hrs

agree  Daryo
2359 days
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