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MBCA
Model Business Corporation Act, a template for state legislation that provides a statutory framework for the creation and operation of corporations within the United States.
Right of First Refusal
A contractual right that gives its holder the option to enter into a business transaction with the owner of something, before the owner is entitled to enter into that transaction with a third party.
Option Agreement
An agreement that gives a party the option, but not the obligation, to buy or sell an asset at a predetermined price and date.
Buy-and-Sell Agreement
A legally binding agreement between co-owners that outlines the procedure for the redistribution of shares of a departing owner, often used in partnerships and close corporations.
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