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.
Salt Lake City Utah Buy Sell Agreement Package refers to a comprehensive legal document that outlines the terms and conditions for the buying and selling of a business or its assets in the Salt Lake City area of Utah. This package is designed to protect the rights and interests of both the buyer and the seller, ensuring a smooth and fair transaction. A Salt Lake City Utah Buy Sell Agreement Package typically includes various key components such as: 1. Purchase and Sale Agreement: This is the main document that outlines the terms and conditions of the sale, including the purchase price, payment details, and any contingencies. 2. Confidentiality Agreement: This agreement ensures that all parties involved will keep any confidential information regarding the business or its assets private and not disclose it to any third parties. 3. Non-Compete Agreement: This agreement restricts the seller from engaging in a similar business or competing with the buyer in the Salt Lake City area for a specified period of time. 4. Due Diligence Checklist: This checklist helps the buyer assess the business or assets' financial and legal status to ensure they are acquiring a viable and legally sound entity. 5. Bill of Sale: This document confirms the transfer of ownership from the seller to the buyer, including a detailed list of the assets being sold. 6. Promissory Note: If the buyer is financing a portion of the purchase price, a promissory note is included to outline the terms of repayment. 7. Earnest Money Agreement: This agreement outlines the deposit or earnest money paid by the buyer to the seller as a demonstration of their commitment to the purchase. It includes details about the conditions under which the earnest money may be forfeited. Types of Salt Lake City Utah Buy Sell Agreement Packages: 1. Business Buy Sell Agreement Package: This package encompasses the sale of an entire business, including assets, customer base, goodwill, and intellectual property rights. 2. Asset Purchase Agreement Package: This package focuses on the purchase and sale of specific assets of a business, rather than the entire entity. 3. Stock Purchase Agreement Package: This package is relevant in the case of a sale where the buyer acquires the stock and ownership in a corporation. 4. Partnership Buy Sell Agreement Package: This package is designed for partnerships where one partner is selling their interest to another partner or a third party. In conclusion, a Salt Lake City Utah Buy Sell Agreement Package provides a comprehensive legal framework for buying and selling businesses or their assets in the Salt Lake City area, promoting transparency, clarity, and protection for all parties involved.
