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The entity disposing, conveying, and selling the assets is referred to as the seller or vendor. [3] A PSA sets out the various rights and obligations of both the buyer and seller, and might also require other documents be executed and recorded in the public records, such as an assignment, deed of trust, or farmout agreement. [4]
Buy–sell agreement can be in the form of a cross-purchase plan or a repurchase (entity or stock-redemption) plan. For greater neutrality and effectiveness of the buy–sell arrangement, the service of a corporate trustee is recommended. Profit or loss from a buy-sell agreement may trigger tax conquencess and taxable income. [2]
Pet leasing is the practice of leasing a pet, usually a dog, to a customer on a contract basis. [1] The practice is controversial, because some customers believed they were taking out loans to buy a pet when, in fact, they were only leasing an animal that could be repossessed by the lender in the event that payments were not kept up.
Be careful, though -- searching for a dog online can expose you to scammers. How To Make Money Fast: 26... Puppy Scams Cost Americans $1 Million This Year: 5 Red Flags To Know Before Buying a Dog ...
This option, but not the obligation, to acquire the car after a period equivalent to a contract hire is therefore packaged as either an option (in law) to purchase the car (a call option) at a 'set' price, or a right to sell the car (a 'put' option) at a set price after ownership is fully achieved from the final ‘balloon’ payment.
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