This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Business Buyout Agreement With Partner In Riverside
Category:
State:
Multi-State
County:
Riverside
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
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What if a business partner wants to buy out your ownership? An Irvine business lawyer helps you to understand what to do in this situation.The ability to buy out a business partner largely depends on the structure of the partnership and the terms in the partnership agreement. We guide small business owners in the Coachella Valley and Riverside County area through each step of a transaction to help them accomplish their objectives. 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. Typically, a "lock out" operates as a dissociation of the excluded partner from the partnership. Letter of Intent: The letter of intent should spell out the proposed price, the terms of the purchase and the conditions for the sale of the business. If Contractor received a small business preference in connection with this Agreement, Contractor must complete and submit the.