If a Restrictive Covenant Is Valid, It Binds Only the Original

question 53

True/False

If a restrictive covenant is valid, it binds only the original grantee in the deed that created the covenant.

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Definitions:

Share Ownership

Refers to the possession of shares in a company, representing partial ownership and entitlement to a portion of the company's profits and assets.

Strategic Operating

Refers to decisions and activities related to the management of core business functions with the aim of achieving long-term objectives.

Board of Directors

The board of directors is a group of individuals elected to represent shareholders and oversee the activities and strategic direction of a company.

CPA Canada Handbook

A comprehensive guide that provides the accounting and assurance standards for Canadian accountants, serving as a crucial resource for financial reporting.