“Let the buyer beware”. A legal tem relating to the purchase of goods and placing the onus on the buyer to satisfy himself that the goods which he is purchasing are suitable and of sufficient standard or quality for the purpose intended.
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(1)An agreement among part-owners of a business which says that, under stated conditions, i.e., disability or death, the person withdrawing from the business, or his heirs, are legally obligated to sell their interest to the remaining part-owners, and the remaining part-owners are legally obligated to buy at a price fixed in the agreement; (2) a similar agreement between an owner or part-owner of a business and a non-owner, such as a key employee.