Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

option agreement

Read a random definition: preregistration agreement

A quick definition of option agreement:

An option agreement is a type of contract that restricts a shareholder from selling their shares until a specific event occurs. This contract obligates the shareholder to sell their shares at a predetermined price, but it does not require the corporation or other shareholders to buy those shares. It is similar to a buy-sell agreement, but with the added option for the shareholder to sell their shares at a fixed price.

A more thorough explanation:

An option agreement is a legal contract that restricts a shareholder from selling their shares to anyone else except for a specific buyer at a predetermined price. This agreement is usually made between the shareholder and the corporation or other shareholders.

For example, let's say John owns 50% of a company and wants to sell his shares. The other shareholders, however, want to maintain control of the company and do not want John to sell his shares to an outsider. They can enter into an option agreement that gives them the right to buy John's shares at a fixed price if he decides to sell.

Another example is when a company wants to acquire another company. They can enter into an option agreement with the shareholders of the target company, giving them the right to buy their shares at a fixed price if the acquisition goes through.

Option agreements are commonly used in business to protect the interests of shareholders and ensure the stability of the company's ownership structure.

opt in | optional completeness, rule of

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
I'm curious, how bold can one be in those videos? Is it worth making a satirical Jason Statham-action short if the adcoms have no sense of humor?
the more risk you take the higher chance of it backfiring
my instinct would be low humor bc if they have such a complex application I would feel hesitant to use a major part of it as a joke. They clearly take their admissions seriously and a joke video might convey the wrong thing at the wrong time. I think that humor is best put into a PS anecdote where it adds some shine to your personality
safe is always better
All good points
triplethread
11:34
@TheAdoptedOne: amazing
I almost did one for Vanderbilt and my idea was to do a documentary-style vid where I and others talked about me like it was an ESPN 30 for 30.
1a2b3c4d26z
11:36
I was risky in maybe one or two of my essays in that some parts read as slightly humorous, but I really tried to suss out the vibe for each school. I feel like Berk and UMich may be more accommodating of a more "out there" approach than other schools I applied to
1a2b3c4d26z
11:37
but that's literally just going off vibes
it looks like Berk vid is in response to a known prompt. My thinking is it may be a counter to AI by getting people to have to respond to what is essentially an essay prompt but on video
"I think really it’s more the USNWR change that emphasizes employment outcomes in school rankings. Schools want to admit people who have the skills to be more likely to land great jobs even more than before, and being a good interviewer is a very important for that. They want to see you have the soft skills." from a reddit comment
1a2b3c4d26z
11:38
One funny thing when talking to lawyers at work is that they will always say how they wish more law schools had interviews to make sure you can like... talk to people and form sentences
getting lunch no one say anything funny or do anything cool for 15 mins
triplethread
11:43
my dick fell off
Trump dropped out of the race
TheMidwestMonger
11:46
Any chance Notre Dame releases earlier this year?
LSD+ is ad-free, with DMs, discounts, case briefs & more.