Share Purchase Agreement

Description

The shareholders of a corporation may opt to sell, assign, transfer or encumber their shares of stock in the corporation, including all their rights, interest and participation thereto, subject to such limitations prescribed by the By-laws. A share in the capital stock of a corporation is considered property which can be sold, disposed of or alienated by the holder. The evidence of such ownership is the certificate of stock in the name of the holder which, in a sale of shares, shall be endorsed and delivered to the buyer. This kind of agreement is sometimes used in mergers & acquisitions by the controlling stockholders.

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