a) The man can protect himself by entering into contract in restraint of trade with the entrepreneur. In Esso Petroleum v Harper’s Garage (Stourport) Ltd [1968] Lord Hodson defined a contract in restraint of trade as follows;
“A contract in restraint of trade is one in which a party (the covenantor) agrees with any other party (the covenantee) to restrict his liberty in the future to carry on trade with other persons not parties to the contract in such manner as he chooses.”
In the covenant the man could require the entrepreneur not to deal in similar business within a ...
Restraint Of Trade College Essays Samples For Students
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A contract can be defined as an agreement that is private and voluntary in nature that binds at least two parties. For instance, a car buyer could enter in an agreement with the seller to pay him the agreed amount of money over a given period while the seller delivers the car to the buyer. It can be viewed as a way of ensuring a promise is kept with the use of law which is aimed at protecting the consumer. Stakeholders in sports have the need to work based on contracts which bind these parties. Sports contracts are formed ...
Business Law
1. List and explain the four (4) requirements of a valid contact and the two (2) defenses to the enforceability of a contract. Cite and explain two cases from the textbook that discuss contract law.
Agreement (Offer and Acceptance).
When one party proposes something to another, he is said to make an offer. If a party agrees to the proposal without any change in it, he is considered to have made the acceptance of that offer. An offer is always confused with an invitation to treat. Advertisements and displays in shops are the examples. They are not offers, but an invitation to treat. An acceptance must ...
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