According to Morton-Benson dictionary "pravo preče kupovine" is : "option to buy"...

Your text refers to a provision of the Serbian Companies Act, which regulates the right of first refusal of company members to acquire a stake in the company before it is offered to non-members. Here is a comparative text in Serbian and English with some explanations of the term "pravo preče kupovine" or "first refusal right" in English.
Pravo prečeg sticanja udela društva
Član 126.
(1) Član društva s ograničenom odgovornošću pre nego što ponudi svoj udeo ili deo udela trećem licu koje nije lice iz člana 125. ovog zakona, dužan je da taj udeo ili deo udela ponudi društvu.
(2) Ako društvo ne iskoristi pravo prečeg sticanja u roku određenom osnivačkim aktom ili ugovorom članova društva, o čemu odluku donosi skupština članova društva, ponuda se dostavlja drugim članovima društva, u skladu sa osnivačkim aktom ili ugovorom članova društva.

Right of First Refusal on Transfer to Third Parties
Article 126
(1) Before offering to transfer his share or a part thereof to a person who is not then a member and is not a person referred to in Article 125, a transferring member must first offer it to the company.
(2) If the company does not accept such offer within the period stated therefore in the company's Articles of Association or company agreement, the decision on which is to be made by the members' meeting, the offer shall be sent to the other members of the company, in accordance with the Articles of Association or company agreement.
http://www.siepa.sr.gov.yu/files/pdf/Law on Companies_1.pdf

right of first refusal
In general, the right of a person or company to purchase something before the offering is made available to others.
Right of someone to be offered a right before it is offered to others.

Right of first refusal (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. In brief, the right of first refusal is similar in concept to a call option.
An ROFR can cover almost any sort of asset, including real estate, personal property, a patent license, a screenplay, or an interest in a business. It might also cover business transactions that are not strictly assets, such as the right to enter a joint venture or distribution arrangement.
See also
• Option (finance)
• Pre-emption right
http://www.answers.com/topic/right-of-first-refusal


right of first refusal
Definition:
1. privilege of preempting transaction: a privilege somebody has to prevent a transaction, typically a sale, lease, or sublease, by agreeing to stand in the place of one party, often the buyer or lessee. Often a condominium's or cooperative's board of directors has this right.
2. right to buy something first: the right to decide whether or not to buy something before it is offered to other potential buyers
encarta.msn.com/dictionary_561548017/right_of_first_refusal.html