Every business at some point must dispose of his business in one way or another. He may sell it, pass it down to the next generation or let it die or retire with the business owner. If the business has a value beyond the involvement of the owner, it is in the best interest of the owner and the owner's family to prepare and plan for that eventuality. This is why a proper buy sell agreement is necessary to predetermine the purchase and sale of business assets in the event of the death, disability, critical illness or retirement of a business owner. In meeting with a business owner, identify which of the following statements emphasize the purpose of such a buy sell agreement. ///////////\\\\\\ Select one: a. It is often very difficult to arrange a buy sell agreement for a sole proprietorship. b. In most Canadian provinces and territories, the spouse or common law partner of a business owner may have an ownership equalization claim against the business owner's property in the event of a marriage breakdown. c. The greatest concern for the business owner is should he become suddenly disabled, what will become of the business. If the business cannot be sold to a third party, how will the business owner or his family survive. d. Regardless of who the potential buyer might be, it is also important that both the seller and the seller's spouse or common law partner be parties to the agreement.

Every business at some point must dispose of his business in one way or another. He may sell it, pass it down to the next generation or let it die or retire with the business owner. If the business has a value beyond the involvement of the owner, it is in the best interest of the owner and the owners family to prepare and plan for that eventuality. This is why a proper buy sell agreement is necessary to predetermine the purchase and sale of business assets in the event of the death, disability, critical iliness or retirement of a business owner. In meeting with a business owner, identify which of the following statements emphasize the purpose of such a buy sell agreement. Select one: a. It is often very difficult to arrange a buy sell agreement for a sole proprietorship. b. In most Canadian provinces and territories, the spouse or common law partner of a business owner may have an ownership equalization claim against the business owner's property in the event of a marriage breakdown. c. The greatest concern for the business owner is should he become suddenly disabled, what will become of the business. If the business cannot be sold to a third party. how will the business owner or his family survive. d. Regardless of who the potential buyer might be, it is also important that both the seller and the seller's spouse or common law partner be parties to the agreement