Business Law An Elementary Treatise
Business Law An Elementary Treatise
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But if the agreement made is unreasonable, it will be void. Whether it is unreasonable depends upon the question of what is necessary for the protection of the purchaser.
Example 45. A has a restaurant in the business center of the city of Chicago. He sells it to B, agreeing that he will not for the period of ten years compete with B in the restaurant business within a two mile radius of the location of the restaurant. This agreement is reasonable and if A could not make it, he would reaUy not ...be able to secure B in his acquisition of the good will which is perhaps the most valuable part of the business. If the agreement had been not to engage in the business anywhere in Illinois the agreement would have been void, as such limits would be unnecessary for B's protection.
What contracts are in illegal restraint of trade is now, from some standpoints, a subject of much controversy 70 BUSINESS LAW and in process of development. With the means of rapid transit of intelligence and goods now at our com- mand, enterprises of truly national scope cannot have proper protection against the competition of the seller of such a business unless he agrees not to compete at all or at least in very restricted districts.
What to read after Business Law An Elementary Treatise?
You can find similar books in the "Read Also" column, or choose other free books by Alfred William Bays to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
But if the agreement made is unreasonable, it will be void. Whether it is unreasonable depends upon the question of what is necessary for the protection of the purchaser.
Example 45. A has a restaurant in the business center of the city of Chicago. He sells it to B, agreeing that he will not for the period of ten years compete with B in the restaurant business within a two mile radius of the location of the restaurant. This agreement is reasonable and if A could not make it, he would reaUy not ...be able to secure B in his acquisition of the good will which is perhaps the most valuable part of the business. If the agreement had been not to engage in the business anywhere in Illinois the agreement would have been void, as such limits would be unnecessary for B's protection.
What contracts are in illegal restraint of trade is now, from some standpoints, a subject of much controversy 70 BUSINESS LAW and in process of development. With the means of rapid transit of intelligence and goods now at our com- mand, enterprises of truly national scope cannot have proper protection against the competition of the seller of such a business unless he agrees not to compete at all or at least in very restricted districts.
What to read after Business Law An Elementary Treatise?
You can find similar books in the "Read Also" column, or choose other free books by Alfred William Bays to read onlineMoreLess
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