buy-sell agreement
A binding contract between co-owners that controls the purchase of a withdrawing owner's ownership interest and includes transfer restrictions that control when owners can sell their interest, who can buy an owners interest, and what price will be paid. These agreements often cover what happens when an owner retires, goes bankrupt, becomes disabled, gets divorced, or dies.
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.

Nolo’s Plain-English Law Dictionary. . 2009.


buy-sell agreement
n. An agreement among the owners of a business or the stockholders of a closed corporation to purchase, or to have the business or corporation purchase, the interest or shares of any withdrawing or deceased owner or stockholder.

Webster's New World Law Dictionary. . 2000.

buy-sell agreement
n.
   a contract among the owners of a business which provides terms for their purchase of a withdrawing partner's or stockholder's interest in the enterprise.

Law dictionary. . 2013.

Look at other dictionaries:

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