buy-sell agreement


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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.

References in periodicals archive ?
Read Business Succession Planning and the Buy-Sell Agreement on ThinkAdvisor.
He added that the citys consulting engineers, Meyer Group, proposed reaching a buy-sell agreement, using a third party the company works with to piece together the offer.
They cover what a business divorce is, pre-suit considerations, effectuating a split, challenging a split, common claims, the nature of claims chart, issues in damages and valuation, statutory definitions of value, protective measures--a practical guide, voluntary corporate dissolution checklist, dispute resolution checklist, and buy-sell agreement dispute avoidance checklist.
When going into business with one or more partners, drawing up a buy-sell agreement is routine.
A one-way buy-sell agreement, which Ron and Greg decide to execute, typically includes the following terms and conditions:
But there's one contract every construction business owner should have that sometimes goes overlooked: a buy-sell agreement.
Of all the business protections that companies routinely have in place, the one that seems to get the least attention is the buy-sell agreement.
Without certain kinds of business life insurance like key person coverage or an insured buy-sell agreement on the partner who died, our fictitious business may have serious problems and be forced to liquidate or even close shop.
A buy-sell agreement can benefit a closely held business in many ways:
Businesses with more than one substantial co-owner should have a buy-sell agreement.
One of the advisers on the team, Andrew Karlen of the law firm Karlen & Stolzar in White Plains, New York, says that a family business with co-owners generally should have a buy-sell agreement in place.