We've created a detailed guide on effectively ending a business partnership. We've included our own experiences as well as our expert tips and tricks.Find top rated business partnership agreement lawyers for Salt Lake City, UT to hire. Post your legal needs and get proposals from UT lawyers. As a transactional lender, Celtic Bank can help you secure financing to buy out a partner without interfering with your existing business lender. A buyout agreement is a binding contract between business partners that establishes the buyout details of one partner exiting the partnership. My business partner is retiring and has asked that I buy her out. I am fine with her asking price and terms but she said something that has me baffled. Buying out a business partner can be done in several ways.