The Stock of Closely Held Corporations Is Typically Restricted as to Transferability

question 44

True/False

The stock of closely held corporations is typically restricted as to transferability by some type of buy-sell agreement.

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Definitions:

Computer Chips

Small electronic devices consisting of a set of integrated circuits used to perform various computing tasks.

San Francisco

A major city in California, USA, known for its iconic Golden Gate Bridge, steep streets, and historic cable cars.

Oral Agreement

An oral agreement is a verbal contract between parties that is as legally binding as a written contract, though harder to prove, covering the terms and conditions they've agreed upon.

Enforceability

The ability of an agreement or contract to be legally compelled or executed according to its terms.