buy-sell agreement
A contract fixing when an owner's interest must or may be bought (death, disability, divorce, retirement, termination, deadlock), at what price (formula, book value, appraisal, offer price) and how it is funded (insurance, installments).
In SpanishEn español
convenio de compraventa forzosa entre socios (buy-sell)
Fija cuándo se compra la parte de un socio (muerte, incapacidad, divorcio, retiro, despido, bloqueo), a qué precio (fórmula, valor contable, avalúo, precio ofrecido) y cómo se paga (seguro, parcialidades). Es la cláusula que evita heredar un socio inepto o un excónyuge.
ExamplesEjemplos
- On a partner's death, the buy-sell agreement obliged the firm to buy his interest with the key person policy. Al morir un socio, el buy-sell obligaba a la firma a comprar su parte con el seguro de persona clave.
RelatedRelacionados: key person (key man) life insurance, book value, buyout, community property
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