Meaning of some terms used in relation to contractual agreement

[Diksha Gupta]

However, proviso to section 58(2) provides that any contract or arrangement between two or more persons in respect of transfer of securities shall be enforceable as a contract. It is now possible to contractually agree on terms such as right of first refusal, right of first offer, tag along, call option, put option, etc.

In this para, agreement could be made on any 5 of these terms, may someone help me in getting a clear idea of what they mean and how do they differ?

[KASTURI SETHI]

Reply is easily traceable on TAX GURU website.

AI Summary

Enforceability of contractual transfer arrangements permits right of first refusal, right of first offer, tag along, call and put options.
Proviso to section 58(2) makes contracts or arrangements concerning transfer of securities enforceable, allowing parties to agree on transfer-related mechanisms such as right of first refusal, right of first offer, tag along, call option, and put option; the query requested explanations and distinctions for these terms, and the reply directed the reader to an external website for the detailed definitions.