This is a "Right of First Refusal and Co-Sale Agreement." It is entered into by the corporation and the purchasers of preferred stock. It gives the company and the purchasers of preferred stock certain rights of refusal and options upon the transfer of stock.
Wisconsin Right of First Refusal and Co-Sale Agreement
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US-TC0211A
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How to fill out Right Of First Refusal And Co-Sale Agreement?
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FAQ
In Wisconsin, children cannot dictate where they reside but the courts may take the child's preference into consideration at about age 14 or when the child can articulate a preference and a reason for the preference. A child cannot opt to violate a court order, parents are responsible for following the court order.
A right of first refusal (ROFR) is an agreement in which an owner of property (typically real estate) conveys a right to another party to match any offer made for the property. If the ROFR holder matches the offer, any sale must be to the holder.
Wisconsin Statute 948.31 defines interference with custody, either by a parent or a third party: ?Whoever causes a child to leave, takes away or withholds a child for more than 12 hours from the child's parent(s) is guilty of a Class I felony.?
The definition of an unfit parent is one who has been neglectful and/or abusive, failing to properly care for a child. Legally, the most common ground for involuntary termination of parental rights is abandonment.
When Can a Child Refuse Visitation in Wisconsin? Until children turn 18 or become legally emancipated, they don't have the right to refuse to visit with a parent when that's required under a court's custody order. Both children and their parents must obey the order.
In some cases, a right of first refusal may give the holder the right to purchase the property at a specified ?bargain? price. Such provisions may be held unenforceable, especially if it is apparent that the specified price is significantly less than fair market value.
Wisconsin law does not require parents to include the right of first refusal in a child custody agreement. However, this does not prevent parents from creating rules that will apply in certain situations and ensuring that children will be cared for by a parent whenever possible.
Basically, an ROFR clause obligates a seller to contact the rights holder with an option to purchase the property before they can accept an alternate third-party offer on the piece of real property.