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Form #1063

Death of Dealer

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Death of Dealer Free Legal Form

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Death of dealer.

If this agreement is terminated due to the death of dealer or any person named in paragraph _________ here, manufacturer, if requested to do so, and without assuming any legal obligations or liability with respect to it, will render assistance to the representatives of the estate of dealer in locating a purchaser or lessee for any premises owned by dealer and used in the performance of dealer's obligations under this agreement at the time of the termination.

In the event of termination of this agreement by reason of the death or incapacity (for reasons of health) of _________, named in paragraph _________, and a new selling agreement covering the dealership point to which this agreement is applicable is offered to and is accepted and executed by _________, also named in paragraph _________, under section _________, manufacturer will, in accordance with the approval of _________ evidenced by his [or her] execution of this addendum, consent to the acquisition or retention by the widow/widower of _________, of a financial interest of _________ percent in the successor dealership subject to the following conditions:

(a). The widow/widower and _________ shall, within a period of _________ days from the effective date of such termination, enter into a written agreement setting forth the rights and obligations of the parties with respect to the matters set forth in subparagraphs _________ and _________ immediately following. Such agreements shall be subject to approval of manufacturer.

(b). _________ as operator of the successor dealership shall be obligated to own a minimum of _________ percent financial interest and shall have the opportunity to increase his [or her] investment from salary, bonus and dividends from the dealership so that at the end of _________ years he [or she] may acquire complete financial ownership at book value of the dealership assets.



 
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Name of Firm Anonymous4
Total Forms Contributed 75
 

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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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