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buy–sell agreement. 1. An arrangement between owners of a business by which the surviving owners agree to purchase the interest of a withdrawing or deceased owner. Cf. CONTINUATION AGREEMENT. 2.Corporations. A share-transfer restriction that commits the shareholder to sell, and the corporation or other shareholders to buy, the shareholder’s shares at a fixed price when…

buyout,n. The purchase of all or a controlling percentage of the assets or shares of a business. Cf. MERGER(8). — buy out,vb. leveraged buyout.The purchase of a publicly held corporation’s outstanding stock by its management or outside investors, financed mainly with funds borrowed from investment bankers or brokers and usu. secured by the corporation’s assets.…

buying on margin.See MARGIN TRANSACTION.[Blacks Law 8th]

buy order.See ORDER(8).[Blacks Law 8th]

buying syndicate.See SYNDICATE. [Blacks Law 8th]

buyer’s market.See MARKET. [Blacks Law 8th]

buying-in,n. The purchase of property by the original owner or an interested party at an auction or foreclosure sale. — buy in,vb.[Blacks Law 8th]

buyer. One who makes a purchase. See PURCHASER. buyer in ordinary course of business.A person who — in good faith and without knowledge that the sale violates a third party’s ownership rights or security interest in the goods — buys from a person regularly engaged in the business of selling goods of that kind. • Pawnbrokers…

buy-down,n. Money paid by the buyer of a house to reduce the mortgage-interest payments.[Blacks Law 8th]

buy-back clause. 1.Contracts. A provision that requires a manufacturer or franchiser to buy back inventory and equipment if the distributor or franchisee’s contract is terminated prematurely. 2.Contracts. A clause allowing the seller of property the right or opportunity to repurchase the property under stated conditions. 3.Insurance. An insurance-policy clause that provides for the reinstatement of…