- A contract among the owners of a business (often dating from the time the business was set up) that provides terms for their purchase of the percentage of the enterprise owned by a partner or shareholder who has decided to withdraw.
Business law dictionary. 2015.
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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… … Law dictionary
Buy-sell agreement — A buy sell agreement may be thought of as a sort of premarital agreement between business partners/shareholders. It is sometimes called a business will . An insured buy sell agreement (agreement funded with life insurance on the participating… … Wikipedia
buy-back agreement — / baɪ bæk əˌgri:mənt/ noun an agreement that a producer will buy back goods from a distributor on a specific date if the distributor has not been able to sell them … Marketing dictionary in english
buy-and-sell agreement — ➔ agreement * * * buy and sell agreement UK US noun [C] LAW ► an agreement saying that the remaining partners of a company will buy the part of a company owned by a partner who dies, becomes unable to work, or wants to sell: »A buy and sell… … Financial and business terms
Buy And Sell Agreement — An approach used by sole proprietorships, partnerships and closed corporations to divide the business share or interest of a proprietor, partner, or shareholder. The owner of the business interest being considered has to be disabled, deceased,… … Investment dictionary
cross-purchase buy and sell agreement — Under this type of arrangement, the surviving owners of a business agree to buy out the withdrawing owner. Assume, for example, R and S are equal shareholders in T Corporation. Under a cross purchase buy and sell agreement, R and S would contract … Black's law dictionary
agreement — a‧gree‧ment [əˈgriːmənt] noun [countable] 1. an arrangement or promise to do something, made by two or more people or organizations: • Under the agreement, the company will distribute our products in North America. • What happens if the warring… … Financial and business terms
buy — I verb acquire by purchase, acquire ownership of, bargain for, complete a purchase, contract, get in exchange, make a purchase, make one s own, mercari, obtain, order, pay a price for, pay cash for, pay for, procure, procure title to, purchase,… … Law dictionary
buy — To acquire the ownership of property by giving an accepted price or consideration therefor; or by agreeing to do so; to acquire by the payment of a price or value; to purchase. To obtain something for a price, usually money. See also purchase @… … Black's law dictionary
agreement to sell — an agreement by which the time when property is to pass to the person who has agreed to buy is to take place at some future time or subject to a condition. See sale. Collins dictionary of law. W. J. Stewart. 2001 … Law dictionary