Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Frank operates a flower shop. He agrees to sell the business to his brother George for $ 45,000. They both use their own solicitors to

image text in transcribed
Frank operates a flower shop. He agrees to sell the business to his brother George for $ 45,000. They both use their own solicitors to negotiate the terms of a formal written contract for sale which they both sign and have witnessed. The agreement contains a restriction that Frank cannot open another flower shop or solicit customers of the business for 2 years and within 2 kilometres of the flower shop. Unfortunately, after six months Frank opens another flower shop one kilometre away. George wants to bring legal action for breach of contract. Frank alleges their agreement was not intended to be legally binding as they are brothers. Please advise George

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Dynamic Business Law

Authors: Nancy Kubasek, M. Neil Browne, Daniel Herron, Lucien Dhooge, Linda Barkacs

6th Edition

1260733971, 978-1260733976

More Books

Students also viewed these Accounting questions

Question

Was it ethical to deny treatment to the control group?

Answered: 1 week ago

Question

Dont off er e-mail communication if you arent going to respond.

Answered: 1 week ago