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- Title
THE BUSINESS PURCHASE AGREEMENT AND LIFE INSURANCE.
- Authors
FAHR, SAMUEL M.
- Abstract
The article focuses on the serious effects of the death a sole proprietor, partner, or shareholder in a closed corporation on the status of the corporation and on partnership agreement. It states that if the central figure of the corporation dies, invariably there is an exceedingly severe shrinkage in the realizable value of partnership assets. It states that in case of the partnership and sole proprietorship all business continuity is likely to be lost when the central figure of the business dies. It states that winding up of business also demand repayment of the credit and, hence it offers solutions to raise finance to repay the creditors in case of winding up of business.
- Subjects
CORPORATIONS; SOLE proprietorship; STOCKHOLDERS; PARTNERSHIP agreements; ASSETS (Accounting); DEATH; DEBTOR &; creditor; COMMERCIAL credit; LIQUIDATION
- Publication
Law & Contemporary Problems, 1950, Vol 15, Issue 3, p319
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1189966