Darren Is a Certified Interior Designer with a Lucrative Client

question 19

Multiple Choice

Darren is a certified interior designer with a lucrative client list in the city of Kelsa, situated in the state of Touslon.His business affords him a substantial amount of goodwill from his clients.Darren sells his accounting interior designing business to Glenda.When he sells his business to Glenda, Darren agrees not to open another interior designing firm in the city of Kelsa for a 25-year period.
-What kind of agreement exists between Darren and Glenda in this case?

• A)contract in restraint of trade
• B)covenant not to compete
• C)unconscionable contract
• D)quasi-contract

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Definitions:

Compensation

The total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required.

Market Equilibrium

A situation in which the quantity of a product demanded by consumers equals the quantity supplied by producers, leading to a stable price.

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity demanded by consumers.

Supply Curve

Graphically represents the relationship between the price of a good and the quantity of that good that suppliers are willing and able to sell.