What does buy-sell agreement mean?

buy-sell agreement meaning in Legal Dictionary

n. a contract one of the owners of a small business which supplies terms because of their purchase of a withdrawing companion's or stockholder's curiosity about the enterprise.

buy-sell agreement meaning in Law Dictionary

known as a buyout agreement, is a binding arrangement between co-owners of a company that governs what happens if a co-owner dies or is otherwise obligated to keep the company, or decides to leave the company.

buy-sell agreement meaning in Business Dictionary

an understanding that says if a part-owner of a small business wishes to market, he or she must sell to another part-owners or any other person known as in the contract. The cost of the an element of the company is in addition named when you look at the arrangement.