Examlex
Which of the following is not administrative authority?
Fair Market Value
The price a willing buyer would pay a willing seller for property in an open and competitive market, where both parties have reasonable knowledge of the relevant facts.
Contract Validity
The legal enforceability of a contract, requiring it to meet certain established criteria like mutual consent, consideration, and legality of purpose.
Geographical Restriction
Limitations placed upon the area or region in which a business can operate or where products and services can be sold.
Restraint of Trade
Legal agreements or policies that restrict or limit competition or the freedom to conduct business in a certain market.
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