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edscoble
"Priority" is the word you're after, I think.
Drivers are on the road by "privilege", rather than "right" (as they need to be licensed to use them), while pedestrians and cyclists have the "right" to use the roads (as they are not licensed to use them and can just... use them... by default unless it's a motorway (which nobody has the "right" to use, because of licensing)).
"Right of way" is the phrase that is often used in place of the more subtle "priority", so you'd yield priority to traffic from the right at a roundabout, and you have priority on a straight road over traffic joining your road from a minor road etc etc