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prefer,vb.1. To put forward or present for consideration; esp. (of a grand jury), to bring (a charge or indictment) against a criminal suspect <the defendant claimed he was innocent of the charges preferred against him>.2. To give priority to, such as to one creditor over another <the statute prefers creditors who are first to file…

prefect of the city. See PRAEFECTUS URBI. [Blacks Law 8th]

prefect (pree-fekt), n.1. A high official or magistrate put in charge of a particular command, department, or region. 2. In New Mexico, a probate judge. [Blacks Law 8th]

preexisting-duty rule. Contracts. The rule that if a party does or promises to do what the party is already legally obligated to do — or refrains or promises to refrain from doing what the party is already legally obligated to refrain from doing — the party has not incurred detriment. • This rule’s result is…

preexisting duty. See DUTY(1). [Blacks Law 8th]

preexisting condition. See CONDITION(2). [Blacks Law 8th]

preemptive right. A shareholder’s privilege to purchase newly issued stock — before the shares are offered to the public — in an amount proportionate to the shareholder’s current holdings in order to prevent dilution of the shareholder’s ownership interest. • This right must be exercised within a fixed period, usu. 30 to 60 days. —…

preemption right. The privilege to take priority over others in claiming land subject to preemption. • The privilege arises from the holder’s actual settlement of the land. See PREEMPTION(3). [Blacks Law 8th]

preemption claimant. One who has settled on land subject to preemption, intending in good faith to acquire title to it. [Blacks Law 8th]

preemption (pree-emp-sh<<schwa>>n), n.1. The right to buy before others. See RIGHT OF PREEMPTION. [Cases: Contracts 16; Sales 24; Vendor and Purchaser 18(.5). C.J.S. Contracts §§ 37–41, 44, 46, 55–56, 58; Sales §§ 41–42; Vendor and Purchaser§§ 98–100, 103–106, 115–116.] 2. The purchase of something under this right. 3. An earlier seizure or appropriation. 4. The…