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The remaining owner would otherwise have to find a new partner or close.
Bob Contant, the store's only remaining owner, told me that the business's accounts have been frozen thanks to a creditor's lawsuit; an investor who came on briefly as C.F.O. has also sued the store.
You should be aware that if you own property jointly with another individual(s) where the deed describes ownership as "tenants in common" the death of one of the individuals does not cause the property to automatically transfer to the share(s) of the remaining owner(s).
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Then she gestured toward the few remaining owner-occupied houses nearby.
It might make sense, for example, to provide remaining owners with a right of first refusal.
The remaining owners are primarily entrepreneurs and small businessmen, more in keeping with the league's grass-roots expansion strategy.
In what's called a cross-purchase agreement, the option or obligation belongs to the remaining owners.
Last year, the remaining owners recruited the Institute for Justice, the Washington-based litigation organization that handled the Atlantic City case and several others around the nation.
With the five remaining owners unable to settle a business negotiation to come to an end to their partnership, a Delaware court chancellor ordered that it be dissolved via an auction.
That is because AT&T will probably give the owners of its common stock the option to exchange that stock for wireless shares outright before distributing the remaining wireless shares to the remaining owners of AT&T common stock.
A buy-sell can prevent an assortment of evils, like becoming unwilling partners with an owner's heirs, or leaving a surviving spouse illiquid because the remaining owners refuse to buy the survivor's inherited shares.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com