Focus on the pronunciation of buy-and-sell agreement
English definition of “buy-and-sell agreement”
noun [C] LAW
› an agreement saying that the remaining partners of a company will buy the part of a company owned by a partner who dies, becomes unable to work, or wants to sell: A buy-and-sell agreement will protect the business from collapse if a partner dies.
› PROPERTY a written agreement between a buyer and a seller of a building or land that says what each of them must do to make the sale: Drafting a proper buy-and-sell agreement for the purchase or sale of real estate can help you avoid problems in the future.