More details to this question:
I want to sell my share (50% corporation) to my partner, he wants to give me a down payment and then pay me monthly for the rest. Now for whatever reason, if he stop paying me, can i go after him personally? can we state this in the agreement? What scenario can happen in the case he stop paying.
1 ANSWER
Michael Stolzar
You should have a contract of sale with him personally so that he would be personally liable if he stopped paying. You could also require him to pledge the shares as security for the payment and have terms in the agreement that would, in essence, enable you to get the shares back if he stopped paying soon after the deal was made.
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Answered on Apr 16th, 2013 at 3:19 PM