What are "last rights"?

[FinbarReilly]

I know it sounds like a newb question, but I've been out of the game long enough that I have no real idea what these pertain to. It sounds like some kind of right of refusal, but I'm not really sure. Could someone clarify what those rights are?

Thanks!
FR

[Shakesbear]

Do you mean 'Last Rites'? If so then if is the anointing of a sick person, usually by a priest, with an oil. Prayers may be said and the sick person may confess their sins and receive absolution.

[IdiotsRUs]

There's something called 'first and last rights' in a contract, something to do with the right to put in a counteroffer

I think, If I remember right.

[FinbarReilly]

Shakesbear: Yeahyeah, cute, but I sorta need a straight answer this time round. There's a contest and the legalese is rather thick, even for boilerplate.

There's something called 'first and last rights' in a contract, something to do with the right to put in a counteroffer

I think, If I remember right.

I figured it was something like that, but I wanted to get something solid...

FR

[IdiotsRUs]

I really can't remember that well. I think it's something along the lines that they have first refusal - but if someone else makes an offer they can counteroffer.

And a quick google reveals nothing bar that it seems popular with TV companies when bidding on sporting events lol.

I'm sure someone will know - or maybe even a quick call to a lawyer might clear it up?

[RJK]

It may mean the party's right of last refusal. look here (http://itlaw.wikia.com/wiki/Right_of_last_refusal)