Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Larry has operated an armored car service, Wenger Security, in a small city for 20 years, building an excellent reputation and many ties with the

image text in transcribed
Larry has operated an armored car service, Wenger Security, in a small city for 20 years, building an excellent reputation and many ties with the community. He offers to sell the business and its goodwill for $300,000 to Securalux Inc. Securalux's counsel includes the following clause in the asset purchase agreement: Larry agrees that for two years, he will not open a new armored car service or go to work for a competing company within a 20-mile radius of Securalux. This type of provision is called: an exculpatory clause an integration clause a non-compete clause a non-disclosure agreement

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

Step: 3

blur-text-image

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

Financial Markets And Institutions

Authors: Jeff Madura

8th Edition

0324568215, 978-0324568219

More Books

Students also viewed these Finance questions

Question

What skills do you feel you need to develop?

Answered: 1 week ago