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Buy-Sell Agreement between Two Shareholders of Closely Held...

Middlesex Massachusetts Buy-Sell Agreement between Two Shareholders of Closely Held Corporation

Name: Middlesex Massachusetts Buy-Sell Agreement between Two Shareholders of Closely Held Corporation
Brand: US Legal Forms
Rating: 4.77 (374 reviews)

Category:

Corporations - Contracts

State:

Multi-State

County:

Middlesex

Control #:

US-02553BG

Format:

Instant download

Description

A corporation whose shares are held by a single shareholder or a closely-knit group of shareholders (such as a family) is known as a close corporation. The shares of stock are not traded publicly. Many of these types of corporations are small firms that in the past would have been operated as a sole proprietorship or partnership, but have been incorporated in order to obtain the advantages of limited liability or a tax benefit or both. A buy-sell agreement is an agreement between the owners (shareholders) of a firm, defining their mutual obligations, privileges, protections, and rights.

How to fill out Middlesex Massachusetts Buy-Sell Agreement Between Two Shareholders Of Closely Held Corporation?

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FAQ

The four types of buy sell agreements are: Cross-purchase agreement. Entity purchase agreement. Wait-and-See. Business-continuation general partnership.

Entity Buy-Sell Agreement an agreement between a partnership or a corporation, as an entity, and the owners (partners or stockholders) that, upon the death of an owner, the company (partnership) will purchase the deceased owner's share of the business.

Whatever the name sounds like, a buy sell agreement does not deal with the buying and selling of partnerships. Generally speaking, a buy sell agreement (or a buyout agreement) is a contract between all the partners in a business that deals with the future ownership of the business and partnership change.

The two most common types of buy-sell agreements are entity-purchase and cross-purchase agreements.

Simply put, buy-sell agreements also known as buyout agreements are binding contracts between co-owners of a business that spell out what will happen should one of the owners die, become disabled, retire, or leave the business.

A list of buyout conditions that could trigger the agreement (divorce, bankruptcy, death, etc) A structure for the partners to buy or sell their interest in the business. A recent valuation of the company. Sources of funding for any purchase or sale of a partner's business interest.

Sometimes these terms are used interchangeably. However, a Shareholder's Agreement usually contains more terms or conditions which govern the relationship between shareholders, whereas a Buy-Sell Agreement usually deals just with the issue of when a shareholder wants to sell shares or if a shareholder dies.

Comparison chart Forward ContractDefinitionA forward contract is an agreement between two parties to buy or sell an asset (which can be of any kind) at a pre-agreed future point in time at a specified price.Structure & PurposeCustomized to customer needs. Usually no initial payment required. Usually used for hedging.10 more rows

There are two basic types of buy-sell agreements: entity-purchase and cross-purchase. Under the former, the corporation is a party to the contract with the shareholders and the corporation ultimately purchases the decedent's stock.

A buy/sell agreement is a contract that restricts business owners from freely transferring their ownership interests in the business. Such agreements are a tool in providing for a planned and orderly transfer of a business interest.

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Middlesex Massachusetts Buy-Sell Agreement between Two Shareholders of Closely Held Corporation

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FAQ

What are the four types of buy sell agreements?

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Is a buy sell agreement the same as a shareholder agreement?

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What is a buy sell agreement in corporation?

Interesting Questions

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What are the key elements typically included in a Middlesex buy-sell agreement?

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