Additionally, the agreement must specify the sales price, the payment methods, and identify the business to be sold. Sell agreement is a specific type of agreement among business owners that pertains to the transfer (or limitation on transfer) of ownership interests.Your buy-sell agreement should cover the valuation of shares in a forward-looking manner, while being flexible enough to account for future business benefits. Call The Byrd Law Firm's Houston attorneys for the legal representation you need. Our business and real estate attorneys are experienced in drafting and negotiating complex letters of intent and business purchase and sale agreements. A buysell agreement is like a will for your business. This article addresses legal points to consider when conveying a membership interest in a limited liability company from one individual to another.