Definition, Meaning & Synonyms
coemption
noun
/kəʊˈɛmpʃən/
Definition
The act of purchasing something together with others, or the right of first purchase.
Examples
- The farmers formed a coemption to buy seeds in bulk, ensuring lower prices for everyone.
- In real estate, coemption allows certain buyers to secure properties before they are listed on the market.
Meaning
Coemption refers to a joint purchasing agreement or the privilege that gives a person priority to buy before others.
Synonyms
- joint purchase
- co-purchase
- right of first refusal
