Using the IRAC rule,please answer and discuss the question. John entered into a contract for the sale of his restaurant to Catherine. One of the terms of the contract was that Catherine would not open up a similar business within 20 miles of the location of the restaurant being sold. About a month after the sale John noticed a spanking new restaurants two blocks down the road from his recently purchased business. When he found out that the proprietor of the new restaurant was Catherine, he sued for breach of contract. Explain the likely outcome based on the laws governing legality.
Using the IRAC rule,please answer and discuss the question. John entered into a contract for the sale of his restaurant to Catherine. One of the terms of the contract was that Catherine would not open up a similar business within 20 miles of the location of the restaurant being sold. About a month after the sale John noticed a spanking new restaurants two blocks down the road from his recently purchased business. When he found out that the proprietor of the new restaurant was Catherine, he sued for breach of contract. Explain the likely outcome based on the laws governing legality.
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter13: Between Competition And Monopoly
Section: Chapter Questions
Problem 4DQ
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Using the IRAC rule,please answer and discuss the question. John entered into a contract for the sale of his restaurant to Catherine. One of the terms of the contract was that Catherine would not open up a similar business within 20 miles of the location of the restaurant being sold. About a month after the sale John noticed a spanking new restaurants two blocks down the road from his recently purchased business. When he found out that the proprietor of the new restaurant was Catherine, he sued for breach of contract.
Explain the likely outcome based on the laws governing legality.
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