Even the most fundamental companies and strategic partnerships can benefit from a buy-sell agreement. For example, if your partner dies, will his wife or relatives be co-owners of the business? Will you have the opportunity to buy your share of the commercial property of your estate? If so, under what conditions and for what amount of money? The purchase-sale contract guarantees that the share of the business is sold to the remaining owners on the basis of a predefined formula. Use the services of a lawyer who specializes in the design of these types of agreements to guide you through the purchase-sale contract process. A lawyer will make sure you create the right type of purchase-sale contract and guide you through the design process. Evaluation is another topic that can influence how a cross purchase sales contract is written. A buy-sell contract can also be called a cross purchase contract. In a cross purchase-buy-sell contract, valuation can be undertaken in different ways: in case of unexpected availability of shares, a cross purchase contract is concluded. As a contingency plan in the event of the death of a partner, a partner will likely purchase risky life insurance for the other partners and list themselves as a beneficiary. If one of the partners dies, the life insurance funds can be used to buy the deceased`s interest. Purchase and sale contracts are often used by sole proprietorships, partnerships and entered into companies to facilitate the transfer of ownership when each partner dies, retires or decides to leave the business.