Jacob decides to sell his well-known dry cleaning business to Fred. In the sale agreement for the business, there is a clause stating that Jacob cannot open a competing dry cleaning business within ten miles of the business he is selling to Fred. This part of the agreement is known as:

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Business

Jocelyn

18 November, 12:55

Jacob decides to sell his well-known dry cleaning business to Fred. In the sale agreement for the business, there is a clause stating that Jacob cannot open a competing dry cleaning business within ten miles of the business he is selling to Fred. This part of the agreement is known as:

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Answers (1)

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Ella Wilkinson · Answer 1

The correct answer is: covenant not to compete.

Explanation:

The non-competition clauses, within the framework of economic concentration processes, are agreements under which one of the parties, naturally the seller, undertakes not to incur acts of competition with the other, in the market in the which participated the company object of the transaction.