There is a legal basis. According to Article 21 of the Contract Law of People's Republic of China (PRC), the contract is entered into voluntarily, which does not violate the provisions of laws and administrative regulations and has legal effect. According to the provisions of Article 49 of the Company Law of People's Republic of China (PRC), the equity transfer of joint-stock enterprises shall come into effect after being resolved by the shareholders' meeting and recorded in the register of investors of limited liability companies or joint stock limited companies. Therefore, if the equity transfer of the joint-stock yoga studio complies with relevant laws and regulations, the transfer contract is also legal and effective.