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first thing were going to talk about today is why you need a buy-sell agreement and before we do that lets figure out what by self agreement is and what it does for you and your business so first and foremost a buy-sell agreement is in an S corporation a part of the shareholders agreement that states the rules for a whole host of potential situations for example it talks about what happens if someone dies becomes disabled if I want to dissolve the company how can I do that it also talks about the rights of the shareholders and an LLC its formed inside of the operating agreement and the term by cell again refers to what happens what do i do if certain things might happen and the first question that comes up is if Im the only shareholder why do i need to buy sell if I have a partner why do I need it myself if I have a board why do i need to buy sell so lets talk about those three scenarios and first before most before we do lets talk about what a buy-sell does for you as a business