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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]
Depending upon where the partnership was formed, English law, Scots law or Northern Irish law may apply in addition to statutes that create a framework across the UK. Under Scots law a partnership is a distinct legal entity and can borrow money from a bank in the name of the partnership, while English law only allows borrowing in the names of ...
For example, a company could launch its business with 1000 shares (for public companies, called an "IPO" or initial public offering) each with a nominal value of 1 penny, and an issue price of £1. Shareholders would buy the £1 shares, and if all are sold, £1000 would become the company's "legal capital". Profits are whatever the company ...
It sold its yoghurt business in 2002 to raise money to concentrate on the convenience foods market. [6] In March 2009 Uniq reached an agreement for the sale of its UK chilled fish business, Pinneys of Scotland, to The Seafood Company Ltd (part of the Foodvest Group). [7] On 12 July 2011, Greencore announced it intended to buy Uniq. [8]
Cash Gen UK Limited, [2] trading as Cash Generator, is a United Kingdom–based Buy and Sell store. Its headquarters are in Edinburgh , United Kingdom. The retailer opened its first store in Bolton in February 1994.
English contract law is the body of law that regulates legally binding agreements in England and Wales.With its roots in the lex mercatoria and the activism of the judiciary during the Industrial Revolution, it shares a heritage with countries across the Commonwealth (such as Australia, Canada, India [1]), from membership in the European Union, continuing membership in Unidroit, and to a ...
Business transactions incur a strong presumption of a valid contract: these agreements where the parties deal as though they were strangers, are presumed to be binding. However, "honour clauses" in " gentlemen's agreements " will be recognised as negating intention to create legal relations, as in Jones v Vernons Pools [ 15 ] (where the clause ...
In April 2007, the group bought a stake in the Irish 'Home Store + More' chain and established its UK business, closing this in 2012 and selling their stake in 2013. [1] In February 2016. Home Retail Group sold Homebase to Australian-based Wesfarmers. [2]
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