|
|
|
Partnership Buy-out agreements 7 Months, 3 Weeks ago
|
Karma: 0
|
|
Can we dispense with partnerships buy-out agreements?
|
|
|
|
|
|
|
 
|
Mark (User)
Senior Boarder
Posts: 66
|
|
Re:Partnership Buy-out agreements 7 Months, 3 Weeks ago
|
Karma: 3
|
|
You can contract your way out of them or terminate them on their terms.
How do you usually handle?
|
|
|
|
|
|
|
|
|
|
|
Re:Partnership Buy-out agreements 7 Months, 3 Weeks ago
|
Karma: 0
|
|
Several business partnerships that, although financially successful have failed in all other respect because the most important covenant in the partnership agreement was lacking, that is the partnerships buy-out agreements.
Most importantly, a buy-out agreement can help the partner’s control who can buy into the partnership to avoid gloomy situations.
|
|
|
|
|
|
|
|
|
|
|
Re:Partnership Buy-out agreements 7 Months, 1 Week ago
|
Karma: 0
|
|
Providing such provision is more on practicality, convenience and being responsive.
|
|
|
|
|
|
|
|
Jackie (User)
Expert Boarder
Posts: 94
|
|
Re:Partnership Buy-out agreements 7 Months ago
|
Karma: 3
|
|
I have a situation where a partner wants to buy the other out of its interest. To sweeten the deal the selling partner will take payment in installments over 1 yr. Does the selling partner have to charge interest? Can it be an interest free installment or do we need to charge interest by law?
|
|
|
|
|
|
|
|
melvs (User)
Fresh Boarder
Posts: 10
|
|
Re:fair guess 7 Months ago
|
Karma: 0
|
|
I think the selling partner can fairly charge for interest.
Interest free or not, fairly it could be done either way.
Maybe the law may not compel the parties to stipulate interest on that particular transaction. I guess the law sets in only when complications arose, but at most, no law requires to charge interest.
|
|
|
|
|
|
|
|
|
Legal Forums 
Favoured: 0
