Terms Beginning With 'b'

Buy-Sell Agreement

  • January 15, 2020
  • Team Kalkine

A legally binding contract that specifies how the share of a partner in a business can be re-assigned if one of the business partners dies or quits.  Also called a buyout agreement, they are generally used by partnerships or sole proprietorships. There are two types of buy-sell agreement:

  • Cross-purchase Agreement
  • Redemption Agreement

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