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Agreeing not to open a competing business could be consideration.
Rent Ceilings
Government-imposed limits on the maximum amount that can be charged for renting a property, aimed at protecting tenants from excessive rent increases.
Transfer of Ownership
The process by which the rights of property or title are moved from one party to another.
Void
A term applied to a contract that is not valid because its object is illegal or it has a defect that is so serious that it is not a contract.
Lease
(1) A transfer of the right to possess and use goods for a period of time in return for consideration. (2) The agreement between a landlord and a tenant that specifies the terms of a property rental.
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