This guide outlines the essential procedures for buying a stake from a business partner. These include creating the motivation behind the buyout.Your agreement should address when a partner can or must be bought out of their partnership interest and the procedure to buy out the partner. What should be in a Buy-Sell Agreement? The primary element to address in a buyout agreement is to determine which event can trigger a buyout of one partner's interest in the company. A Florida buyout agreement isn't about buying or selling a company.