Study On Legal Issues Of The Right Of First Refusal

Right of first refusal has a long history,and it can be found in many countries' legislation and it's a major legal institution in civil and commercial law.Right of first refusal has diverse types in China,which are scattered in some independent laws.There is no unified general theory to support them.So it leads to people have different ideas about the concepts and properties for right of first refusal,and arouses the Controversial phenomenon in juridical practice.With the economic and social growth,the law improvement and development,right of first refusal has compensatory adjustment.But there are also some contentious matters needed to be analyzed and discussed.First of all,this paper reviews the history of right of first refusal.Elaborates different views and disputes about the conception,character and basic theory of right of first refusal,and explain the order value,efficiency value and fair value of right of first refusal.Next,it is combined with the characters of right of first refusal and extra territorial legislative stipulations.It defines the conception,character and different views within the same the condition of right of first refusal,which aims to integrate the general theory of right of first refusal and provide theory support for right of first refusal in independent laws.Meanwhile this paper expounds the classification and type of right of first refusal in China.Then it makes selective analysis of co-owner by shares' right of first refusal,tenants' right of first refusal,shareholders' right of first refusal and shareholders' preemptive right.Finally,this paper finds the crack and insufficiency and tries to put forward some relevant suggestions.This paper strives to consume right of first refusal in civil and commercial law,and provides theoretical basis and support for China's civil code.