WORLD Law Direct Forums  





Go Back   WORLD Law Direct Forums > Business & Finance Law > Other Business & Finance Law Issues
REGISTER FAQ SEARCH Today's Posts Mark Forums Read
Personal Lawyer Legal Forms Calendar

forced but unwanted buyout

Consult Your Own Personal Lawyer Now!
Reply
AddThis Feed Button AddThis Social Bookmark Button
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 03-17-2007, 04:55 AM     #1
Unregistered
 
Unregistered's Avatar
 
Posts: n/a

Confused forced but unwanted buyout

my buisness partners offered to buy me out for a very low amount. In our shareholder agreement in the forced buy paragraph it states, "Provided there has been strict compliance with this Paragraph, the Offeree shall be deemed to have accepted the offeror's offer unless, within thirty days after such written offer has been delivered to the offeree, the offeree shall have elected in writing to purchase all, of the offeror's shares for the purchase price, proportionately increased or decreased, as the case may be, to the extent that the offeror's shares at the time of the offer is greater or lesser than the offeree's shares and upon the same terms and conditions as the offer. If the offeree shall so elect to purchase the offeror's shares as provided in the preceding sentence, the offeror shall have no further right to make any offer or counter-offer to the offeree and shall be obligated to sell the offeror's shares to the offeree pursuant to the offeree's written offer.

Question: If I offer one penny more per share can I not buy them out without them counter offering according to the paragraph?
  Reply With Quote
Sponsored Links
Powered by U.S. Legal Forms
Old 03-17-2007, 10:45 AM     #2
Unregistered
 
Unregistered's Avatar
 
Posts: n/a

Default Re: forced but unwanted buyout

Yes that is what it seems to say; that was to make sure their offer is valid and reasonable otherwise you could do what you propose.

Have the entire contract reviewed however. Email the lawyers below if need be.
  Reply With Quote
Old 03-17-2007, 01:16 PM     #3
Unregistered
 
Unregistered's Avatar
 
Posts: n/a

Thumbs Up Re: forced but unwanted buyout

I have read the whole shareholder agreement and their is nothing in it about fair offers and so I assume if they feel their offer is fair mine should be fair in return. I did not see a list of lawyers to email could you respond with that information please.
  Reply With Quote
Old 03-19-2007, 11:43 AM     #4
Unregistered
 
Unregistered's Avatar
 
Posts: n/a

Default Re: forced but unwanted buyout

info@worldlawdirect.com
  Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Add Forum to Google Toolbar | Format Your Messages

Posting Rules

Similar Threads
Thread Thread Starter Forum Replies Last Post
Breaking News: BCE Buyout Can Proceed, Canada High Court Rules WSJ_law_blog Law News 0 06-20-2008 05:40 PM
Quatrro nears $100 m buyout Metropolitanjury International Law News 1 06-15-2008 09:07 PM
Procedure to enforce buyout rights in different court? Unregistered Business Contracts & Partnerships 1 03-31-2008 11:57 PM
unwanted home Unregistered Wills, Trusts, Estates 1 03-14-2008 01:20 PM
unwanted test Unregistered Medical Malpractice 1 01-17-2007 06:26 PM


All times are GMT -4. The time now is 07:49 PM.


Powered by U.S. Legal Forms

Subscribe

Use of the Forums is subject to our Disclaimer which prohibits unapproved advertisements, solicitations or other commercial messages, and false, harassing or abusive statements. All postings reflect the views of the author but become the property of WORLD Law Direct.

Questions and information submitted in the Forums are assumed inquiries for general information and not legal advice.

Copyright 2000-2008 by WORLDLawDirect.com, Inc.