Meaning of “buy-and-sell agreement” in the English Dictionary

"buy-and-sell agreement" in Business English

See all translations

buy-and-sell agreementnoun [ C ]

uk us 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.

(Definition of “buy-and-sell agreement” from the Cambridge Business English Dictionary © Cambridge University Press)