Isabel, Wesley, Gina, and Lucas worked together intensively to form and become the only shareholders of a corporation that is environmentally conscious. Is there anything they can do to avoid having shares of stock in their company sold to someone who does not share their vision for the environment?
Yes, they can sign a shareholder agreement that grants a right of first refusal for their company's stock. Typically with such an agreement, if a shareholder wants to sell his stock, he must first offer it to the company at the same price that the outsider has offered. If, after 30 days, the company has not agreed to buy the stock, he must then offer it to the other shareholders. Only if they also refuse to buy it within 30 days can he sell it to an outsider at the same price that he offered to the company and shareholders.
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Which of the following is true about an assignment of rights after the obligor-promisor has received notice of the assignment by the obligee to an assignee?
A) The offer is terminated. B) The assignee stands in the shoes of the obligee. C) The offer becomes firm and cannot be revoked. D) Consideration is implied under the doctrine of promissory estoppel.
What is the current APY on this credit card?
Bradley currently has a Visa card from his bank with the following terms: 21 percent on purchases, 25 percent on cash advances with a 3 percent cash-advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Lately, he has been having a hard time paying more than the minimum payment of 3 percent of his balance. A) 21 percent B) 22.99 percent C) 23.14 percent D) 24 percent