Contract Law

Business Sale Contracts That Backfire โš–๏ธ


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๐Ÿ›๏ธ The Business Sale That Changed Everything

๐ŸŒŸ Imagine working for years to build a business, selling it, and then being told you can never work in your field again - anywhere, anytime. Sounds impossible? Think again! This episode dives into the fascinating world of non-compete agreements and when they actually hold up in court.

๐Ÿ’ก What You'll Discover:

  • ๐Ÿ” Why Section 27 of the Indian Contract Act makes most non-compete clauses illegal
  • โš–๏ธ The surprising exception for goodwill sales - and what "goodwill" actually means
  • ๐ŸŽฏ How courts balance buyer protection with seller rights to earn a living
  • โšก Why vague terms like "any manner" can destroy your entire contract

๐Ÿš€ Real Cases Discussed:

  • ๐Ÿ’Ž Nordenfelt vs. Maxim Nordenfelt Guns & Ammunition Company - The gun inventor who couldn't compete worldwide for 25 years
  • โญ Vancouver Malt & Sake Brewing Company vs. Vancouver Breweries Limited - When you try to sell goodwill you never had

๐ŸŽ™๏ธ Whether you're buying or selling a business, this episode reveals the legal landmines that could make or break your deal - and your future career!

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Contract LawBy Sharad Bansal