If you think of how many people that you've known that have been asked to sign an employment contract before they were hired on to take a job, then you would probably mention teachers, doctors or company executives. There are varying reasons that an employer may request them to sign one.
Everyone knows that a limited liability company, or LLC, offers benefits to the owners that protect them from personal liability, in the event the business incurs more debt than it can afford to pay.
While being asked to be an executor of someone's estate is something that most will only be asked to do once or twice during their lifetime, it's a role that carries with it a tremendous responsibility. When you're appointed to the role, it's your responsibility to handle everything regarding an estate from locating and filing a decedent's will with the probate court to paying final expenses.
As a shareholder in a closely held company, you have every reason to want to protect your interests. Since the shares in a closely held company are privately owned, your financial welfare may depend on your agreement with other investors about the fate of those shares if certain contingencies should arise.
When you start a business, it is wise to set up an operating agreement or a partnership agreement with your business partner. This should spell out the specific steps that need to be taken to remove someone from the company.