Buy-Sell Agreement Law Definition

Use the services of a lawyer who specializes in the design of these types of agreements to guide you through the purchase-sale contract process. A lawyer will make sure you create the right type of purchase-sale contract and guide you through the design process. Even the most fundamental companies and strategic partnerships can benefit from a buy-sell agreement. For example, if your partner dies, will his wife or relatives be co-owners of the business? Will you have the opportunity to buy your share of the commercial property of your estate? If so, under what conditions and for what amount of money? The purchase-sale contract guarantees that the share of the business is sold to the remaining owners on the basis of a predefined formula. .