what is the difference between an options contract and a right of first refusal 
an options contract is an agreement whereby the contract buyer purchases the right but not the obligation to exercise the right and buy or sell shares of stock a right of first refusal is the right but not the obligation to match an offer someone else has made on an asset and purchase it the bottom linea right of first refusal is a contractual agreement between two parties that gives one the ability to be the first buyer this party can match an offer made by a third party and purchase an asset or they can refuse to match it in which case the seller can proceed with selling it to that third or another party these contracts are generally used by interested parties who don t want a contractual obligation to purchase an asset but do want the option to do so if other parties become interested in it 