The agreement that will help to settle issues between the remaining partners in the event of the death of a partner, the partnership should have a buy-sell agreement in place.
We need to first know what a buy-sell agreement is.
What is a buy-sell agreement?
The buy-sell agreement is a document that stipulates what a partner wants to be done to his share of the business in the event of death.
- This agreement is important because it will help to prevent disagreement in the eventuality of death.
- Therefore, the correct agreement that the partnership should have is a buy-sell agreement.
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