With this Buy-Sell Agreement Package, you will find the forms that are necessary for a future sale of a partner’s or shareholder's interest. In a buy-sell agreement, the party contractually limits his or her ability to dispose of his or her interest in the partnership or corporation to the terms of the agreement, and control of the partnership or corporation may be assured.
Included in your package are the following forms:
- Buy-Sell Agreement Between Shareholders of Corp
- Buy-Sell Agreement Between Partners of Partnership
- Non-Compete Agreement Between Buyer and Seller
- Buy-Sell or Stock Purchase Agreement Covering Common Stock in a Closely Held Corporation with an Option to Fund the Purchase Through Life Insurance
- Buy-Sell Clauses and Related Material
Detailed information on forms included:
- Buy-Sell Agreement Between Shareholders of Corp. - The purpose of this agreement is to provide for the sale by a stockholder during his/her lifetime, or by a deceased stockholder's estate, and to provide all or a substantial part of the funds for the purchase. The form contains the following provisions: total value of the capital stock, procedure upon the death of a stockholder, and amending procedures for the agreement.
- Buy-Sell Agreement Between Partners of Partnership - This form is an agreement in which the partners are engaged in a particular business and the purpose of this agreement is to provide for the sale by a partner during a partner's lifetime, or by a deceased partner's estate, of his interest in the partnership, and for the purchase of such interest by the partnership at a price fairly established, and to provide all or a substantial part of the funds for the purchase.
- Non-Compete Agreement Between Buyer and Seller- In this form, the seller and purchaser agree not to compete with each other in the specified industry and territory for a certain time period. The form is designed to be adapted to fit your particular needs.
- Buy-Sell Clauses and Related Material - This form is a model adaptable for use in partnership matters, based on an example clause used by a 50-50 general partnership or limited liability company joint venture. Buy-sell device includes an auction procedure. Adapt the form to your specific needs and fill in the information.
- Buy-Sell or Stock Purchase Agreement Covering Common Stock in a Closely Held Corporation with an Option to Fund the Purchase Through Life Insurance- This form is set up as a Buy Sell Agreement between the Corporation and a key shareholder. It applies in the case of the death, disability, retirement or offer of shareholder to sell the stock during his lifetime.
The Cook Illinois Buy Sell Agreement Package is a comprehensive legal document that outlines the terms and conditions for buying or selling a business in Cook County, Illinois. This package includes all the necessary forms, agreements, and disclosures needed to ensure a smooth and legally binding transaction between the buyer and the seller. One of the key components of the Cook Illinois Buy Sell Agreement Package is the purchase agreement. This document details the agreed-upon terms of the sale, including the purchase price, payment terms, and any contingencies or conditions that need to be met before the sale can be completed. It also specifies the rights and obligations of both parties throughout the process. Another important document included in the package is the disclosure agreement. This agreement requires the seller to provide the buyer with all relevant information about the business, such as financial statements, tax returns, contracts, leases, and customer lists. It ensures transparency and helps the buyer make an informed decision about the purchase. Additionally, the Cook Illinois Buy Sell Agreement Package may include non-compete agreements, which restrict the seller from starting or working for a competing business within a specified geographical area and timeframe. This helps protect the buyer's investment and ensures that the seller does not adversely affect the value of the business after the sale. It is worth noting that there may be variations of the Cook Illinois Buy Sell Agreement Package depending on the specific nature of the business being bought or sold. For example, there could be different packages available for the sale of a retail business versus a professional service business. These variations would include tailored forms and agreements specific to the industry or sector. In summary, the Cook Illinois Buy Sell Agreement Package is a comprehensive set of legal documents designed to facilitate the purchase or sale of a business in Cook County, Illinois. It includes various agreements, forms, and disclosures necessary to protect the rights and interests of both the buyer and the seller.
