Does a stock purchase agreement expire?

If a Stock Purchase Agreement has no closing date does it expire?

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Hi,

I have a question regarding stock purchase agreements and their expiry. If a stock purchase agreement has no expiry date does the agreement expire? I ask the question because as the founding member of a company I had an agreement with the company to sell me 10,000 shares at 1p per share.

This was in March and I didn't pay for the shares until November (I didn't know I actually had to transfer the cash). I know it could be a company loan to cover the share purchase etc etc however it did get me thinking that the agreement had no closing date therefor the transfer could have happened whenever is that correct?

Thanks for your help!

Tom

Replies (2)

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By johngroganjga
12th May 2018 11:27

If you are in the UK you will cause less confusion if you use the word “shares” rather than “stock”. What we call “stock”, Americans call “inventory”. What they call “stock” we call “shares”.

Why does the answer to your question matter? Is someone suggesting that the shares you have applied for have not been issued to you?

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By Accountant A
12th May 2018 11:49

Maybe have a look and see what the agreement says? Or ask a solicitor to do so on your behalf?

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