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Preemption

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Webster Dictionary
• Preemptioner
• Preemption

(1):

(n.) The privilege or prerogative formerly enjoyed by the king of buying provisions for his household in preference to others.

(2):

(n.) 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.

(3):

(n.) The act or right of purchasing before others.