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This agreement provides for the cession of a contract from one party to another. If the contract incorporates obligations by the cedent and/or if the contract itself precludes a cession in the absence of the consent of the cessionary, then a written cession of the agreement is required.
R195
A shareholders agreement is fundamentally important to your business. There are numerous issues that can arise that can give rise to serious disputes between shareholders and more often than not, shareholder disputes can jeopardise the entire business. It is also vital that a shareholders agreement is concluded in conjuction with the Memorandum of Incorporation for the Company, particularly as the Companies Act 2008 provides that in relation to certain vital aspects a Memorandum of Incorporation will override and take precedence over a shareholders agreement.
Pledging shares as security for a debt can be a complex matter. In addition to concluding a binding agreement, the pledgee must actually receive the original share certificate for safe keeping.
When appointing a non-executive director – it is strongly recommended that a written contract is put in place. This ensures that the non-executive director’s obligations are outlined, that the termination provisions are clear and that the remuneration is properly documented.
If an agent is appointed to sell a business, you would typically want to provide for a written mandate that regulates the terms and conditions that apply, the obligations of the agent and the remuneration mechanism.
