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Stock Agreement - Buy Sell Agreement between Shareholders and...

Santa Clara California Stock Agreement - Buy Sell Agreement between Shareholders and Corporation

Name: Santa Clara California Stock Agreement - Buy Sell Agreement between Shareholders and Corporation
Brand: US Legal Forms
Rating: 4.79 (337 reviews)

Category:

Contracts - Buy Sell - Shareholders and Stock

State:

Multi-State

County:

Santa Clara

Control #:

US-03115BG

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. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

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.

In general, shareholders can only be forced to give up or sell shares if the articles of association or some contractual agreement include this requirement. In practice, private companies often have suitable articles or contracts so that the remaining owner-managers retain control if an individual leaves the company.

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.

A shareholder buyout agreement is a contract that determines how shares can be sold and bought within the organisation. These agreements are imperative for many types of businesses including corporations and limited liability companies.

A buy and sell agreement is a legally binding contract that stipulates how a partner's share of a business may be reassigned if that partner dies or otherwise leaves the business. Most often, the buy and sell agreement stipulates that the available share be sold to the remaining partners or to the partnership.

Despite the name, buy-sell agreements have little to do with buying and selling companies. Instead, they are binding contracts between co-owners that control when owners can sell their interest, who can buy an owner's interest, and what price will be paid.

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.

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.

The buy and sell agreement is also known as a buy-sell agreement, a buyout agreement, a business will, or a business prenup.

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Santa Clara California Stock Agreement - Buy Sell Agreement between Shareholders and Corporation

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What is a buy-sell agreement in corporation?

Do all shareholders have to agree to sell a company?

What should a buy-sell agreement include?

What is a shareholder buyout agreement?

What is a corporate buy-sell agreement?

What is a buy-sell agreement?

In which type of buy-sell agreement is the corporation a party?

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

What is another name for buy-sell agreement?

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What is a Santa Clara Stock Agreement?

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What happens if a shareholder wants to sell their shares?

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