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In 1922, the Supreme Judicial Court eliminated any doubt that restrictive covenants in the employment context would be enforced when reasonable. [50] The basic proposition enunciated long ago continued to apply in the 2000s: "A covenant not to compete is enforceable only if it is necessary to protect a legitimate business interest, reasonably ...
In contract law, a non-compete clause (often NCC), restrictive covenant, or covenant not to compete (CNC), is a clause under which one party (usually an employee) agrees not to enter into or start a similar profession or trade in competition against another party (usually the employer).
Non-solicitation agreement provisions—alongside the non-compete clause (NCC) and the non-disclosure agreement (NDA)—constitute one of three restrictive covenants frequently found within a business contract. They may be entered into with both employees and independent contractors—in addition to multiple entities—as part of a larger ...
Restrictive covenants have a complex and sordid history. From the 1920s to the 1960s, racially restrictive covenants became a common tool to prevent racial, ethnic and religious minorities from ...
Chicago adopted racially restrictive housing covenants beginning in 1927. [13] In 1948, the United States Supreme Court ruled that enforcement of racial restrictive covenants was unconstitutional. 1953: Housing In August 1953, the first black family moved into Trumbull Park, a formerly all-white project of the Chicago Housing Authority.
Under English law, restraining clauses in employment contracts are enforceable if: [citation needed] There is a legitimate interest which needs to be protected. Examples of such interests include business connections and business secrets. The restraint is reasonable, i.e. sufficiently protects the interest and goes no further.
An example of a transaction which is an unenforceable contract is a contract for prostitution under English law. Prostitution is not actually a crime under English law, but both soliciting a prostitute and living off the earnings of a prostitute are criminal offences. [3] Yet so long as the contract is fully performed, it remains valid.
So, for example, if a company declared a 25% profit sharing contribution, any employee making less than $230,000 could deposit the entire amount of their profit sharing check (up to $57,500, 25% of $230,000) in their ERISA-qualifying account. For the company CEO making $1,000,000/year, $57,500 would be less than 1/4 of his $250,000 profit ...