Pre Emption - Definition - Law Dictionary Home Dictionary Definition pre-emption

Definition :

Pre-emption, the word 'pre-emption' is a well understood is a term of law. It is a right of substitution conferred on someone either by statute, custom or contract. The right is to step into the shoes of the vendee preferentially, on the terms of sale already settled between the vendor and the vendee, Vijaylakshami v. B. Himantharaja Chetty, (1996) 9 SCC 376 (381): (1996) 3 Sim LJ 1969.