A stock purchased agreement is a business document which is drafted when an organization referred to as the purchaser agrees to purchase the common stock that is the shares of another organization referred to as the company.
The purchaser gets ownership of the shares and this is recorded as evidence in the agreement. The main purpose of drafting the agreement is to smoothly regulate the transfer of stock between the purchaser and the company.
The complete detail of the sale process is documented in the agreement. There are certain terms and conditions laid down in the agreement that the parties need to adhere to. There are various information mentioned in the agreement which includes sale price of the stock, volume of the stock being sold and others.
The mode and duration in which the transaction will be completed is also mentioned in the agreement. The redemption procedure of the stock is also mentioned in the document.
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