06 70 PARTNERSHIP PURCHASE AGREEMENT

• Jurisdiction: Arkansas
• Library: Arkansas Form Book - Complete (2023 Ed.)

06-70 PARTNERSHIP PURCHASE AGREEMENT

PARTNERSHIP PURCHASE AGREEMENT

THIS AGREEMENT, made this [day] day of [month, year], between [partner #1 name], an individual whose address is [address], and [partner #2 name], an individual whose address is [address], WITNESSETH:

WHEREAS, [partner #1 name] and [partner #2 name] are co-partners engaged in business under the firm name of [partnership name] and they desire that in the event of the death of either of them the surviving partner shall have funds available with which to purchase the entire interest of the deceased partner in the partnership:

THEREFORE, IT IS HEREBY AGREED by the parties, for themselves, their heirs, personal representatives and assigns, in consideration of their mutual promises as follows:

(1) Upon the execution of this Agreement, each partner shall purchase a policy of insurance to be issued by [insurance company name] upon the life of the other partner, in the amount of $[policy...