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As a method of application, the "protimisis" has known two variants: Pre-purchase (original version, of Byzantine origin), in the hypothesis that the person who wanted to sell an asset was obliged to make the privileged an offer of pre-emption (denuntiatio); if the privileged person refused this invitation to prepurchase or did not exercise his/her option within 30 days, the seller became free to sell to anyone. Repurchase (withdrawal) -- hypothesis in which the seller had the obligation to sell to the pre-emptor, but could also sell freely to a foreigner, with the risk that the privileged person may exercise the right to repurchase the good at the real price within ten years. In terms of the seller's breach of its obligation to make the pre-purchase offer to the pre-emptor, the sanction (withdrawal) was identical, regardless of the method of exercising the protimisis. Regarding the right of pre-emption in the light of the provisions conferred by the Civil Code, one can notice the legislator's desire to provide the protection and the value corresponding to the right of ownership over the goods, making available to the holders of the right of pre-emption the possibility to benefit from an adequate means to give this right effectiveness and efficiency. [ABSTRACT FROM AUTHOR]

The purpose of this study was to determine whether the warrant prices of Shariah-compliant companies differed much in illiquid market as compared to liquid market at a certain date. Ten Shariah-compliant company warrants listed under Bursa Malaysia were selected from the lists provided by Securities Commission of Malaysia (SCM) for five years from August 2011 to August 2016. The stock prices of the warrants selected were evaluated using stochastic supply curve under both liquid and illiquid conditions. Simple linear regression was applied to obtain significant estimated liquidity parameter for the supply curve. The estimated liquidity parameter obtained was then used to evaluate the stock prices in illiquid market. The stock prices for a liquid market were calculated by taking the liquidity parameter to be 0. The evaluated stock prices and calculated expected return as average returns of stocks were inserted into Ukhov's Black Scholes model with dilution effect to evaluate warrant prices in both illiquid and liquid markets. This study found that the differences between the evaluated warrant prices in illiquid and liquid markets were very small. This implies that the evaluated warrant prices between the two markets seemed not to have much difference. This gives strong indication that illiquid market does not affect much the warrant prices of the Shariah-compliant companies listed in Bursa Malaysia. We hope this study will convince investors to consider Shariah-compliant company warrants as their choice in investments since their prices do not differ much during good or bad economic conditions. [ABSTRACT FROM AUTHOR]

Information on a workshop related to options, rights of first refusal and other preemptive rights, at the International Council of Shopping Centers (ICSC) U.S. Shopping Center Law Conference, held in Orlando, Florida, on October 26, 2006 is presented. It informs that an option is a right exercisable at the sole discretion of the holder of the option. It focuses on the right of first negotiation and the right of first offer which are the subject of the option or the preemptive right.

. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]