Get UK Law Questions Answered by Verified Experts
You would normally call this a Shareholders Agreement? It covers the points you raise. Is it intended that the shares given to family are to be voting shares with full rights or does the voting remain with the two of you? Other than that it seems straightforward and reasonably well drafted. The language is less formal than a lawyer would use but if anything that is to commended. Happy to discuss any specific points further. In the meantime I hope that helps. Please leave a positive rating so that I am credited for my time.
I don't think you need it substantially redrafted. If you did you would have to see your own lawyer. We can't offer that service on this site which is really just a question and answer service.
yes, in my opinion.
Yes I am a solicitor in the UK. There are many things that could make a contract unlawful. What is your specific concern?
Yes it looks fine.