Definify.com
Webster 1913 Edition
Preemption
Pre-ëmp′tion
(?; 215)
, Noun.
The act or right of preemption.
Specifically: (a)
The act or right of purchasing before others.
(b)
The privilege or prerogative formerly enjoyed by the king of buying provisions for his household in preference to others.
[Eng.]
(c)
The right of an actual settler upon public lands (particularly those of the United States) to purchase a certain portion at a fixed price in preference to all other applicants.
Abbott.