Let $C$ be a category. One says $S$, a family of morphisms of $C$ is a right multiplicative if it has the following property.
1) For all $X\in C$, $Id_X\in S$.
2) For all $f,g\in S$, if $g\circ f$ exists, then $g\circ f\in S$.
3) Given 2 morphisms, $f:X\to Y$ and $s:X\to X'$ where $s\in S$, there exists $t:Y\to Y',g:X'\to Y'$ with $t\in S$ and $g\circ s=t\circ f$.
4) Let $f,g:X\to Y$ be two parallel morphisms. If there exists $s:W\to X,s\in S$ s.t. $f\circ s=g\circ s$, then there exists $t\in S, t:Y\to Z$ s.t. $t\circ f=t\circ g$.
$\textbf{Q:}$ Why this is called "right" instead of "left"?
Ref. pg 90, Def 5.1.3 https://webusers.imj-prg.fr/~pierre.schapira/lectnotes/HomAl.pdf
In older literature, a family $\mathcal S$ which is right multiplicative in the sense of Shapira is said to admit a calculus of left fractions. See for example
Gabriel, Peter, and Michel Zisman. Calculus of fractions and homotopy theory. Vol. 35. Springer Science & Business Media, 2012.
The "old" definition is also used in ncatlab where the focus lies on systems admitting a calculus of right fractions which would be left multiplicative systems in the sense of Shapira.
In the above reference, the word "right" is used because of the right Ore condition and the right cancellability property. Of course, wording is a matter of taste. For example, Shapira's condition S4 says that if $f \circ s = g \circ s$ for $s \in \mathcal S$, then there exists $t \in \mathcal S$ such that $t \circ f = t \circ g$. Thus it seems in fact adequate to regard this as right cancellability of morphisms in $\mathcal S$. However, if you look at the diagram
then it seems to be more appropriate to regard it as left cancellability. As I said: It is a matter of taste.
Nevertheless, the old definition has the following "disadvantage" (quote from section 4 "Properties of the Localization"):
Thus Shapira's definition has the benefit that a right multiplicative system yields a right exact localization functor.