Contract in Restraint of Trade – limits the free exercise of business or trade (esp. stipulating that one who sells a business cannot open a similar business within a specified distance of the business being sold)

contract in restraint of trade:
(1811)

1. A contract that limits the free exercise of business or trade; especially, a contract stipulating that one who sells a business cannot open a similar business within a specified distance of the business being sold within a specified period.

References:

Disclaimer: All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use.

[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4

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