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A shotgun clause (or Texas Shootout Clause [1]) is a term of art, rather than a legal term. It is a specific type of exit provision that may be included in a shareholders' agreement, and may often be referred to as a buy-sell agreement. The shotgun clause allows a shareholder to offer a specific price per share for the other shareholder(s ...
Dissolution of a partnership is the first of two stages in the termination of a partnership. [1] "Winding up" is the second stage. [1] [2] Dissolution may also refer to the termination of a contract or other legal relationship; for example, a divorce is the dissolution of a marriage only if the husband or wife does not agree. If the husband and ...
A deadlock provision, or deadlock resolution clause, is a contractual clause or series of clauses in a shareholders' agreement or other form of joint venture agreement which determines how disagreements on key issues are to be resolved in relation to the management of the enterprise. The drafting of the deadlock provisions will often depend to ...
On August 25, 2009, the El Paso City Council voted 7-1 to grant domestic partnership benefits to city employees. [9] A group, called Traditional Family Values, led by the Rev. Tom Brown, led a petition drive to repeal the city's domestic partnership benefits. The proposition was criticized for its poorly worded language on the ballot.
The Uniform Partnership Act (UPA), which includes revisions that are sometimes called the Revised Uniform Partnership Act (RUPA), is a uniform act (similar to a model statute), proposed by the National Conference of Commissioners on Uniform State Laws ("NCCUSL") for the governance of business partnerships by U.S. States. Several versions of UPA ...
A domestic partnership is an intimate relationship between people, usually couples, who live together and share a common domestic life but who are not married (to each other or to anyone else). People in domestic partnerships receive legal benefits that guarantee right of survivorship, hospital visitation, and other rights.