A(n)________ gives the surviving owner or heir of a family business the right to purchase the stock of the deceased owner at a price established by a predetermined formula.

Question

Quizplus · Accepted Answer

A buy/sell agreement is a legal agreement that outlines what will happen to a business in the event that an owner dies or decides to leave the company. In the case of the death of an owner, a buy/sell agreement gives the surviving owner or heir the right to purchase the stock of the deceased owner at a price established by a predetermined formula. This helps to ensure that the business can continue to operate smoothly and that the surviving owner or heir can take over the deceased owner's share of the business without any legal complications. Therefore, option D is the best choice.

A(n)________ Gives the Surviving Owner or Heir of a Family