Search results
Results From The WOW.Com Content Network
Restraint of trade in England and the UK was and is defined as a legal contract between a buyer and a seller of a business, or between an employer and employee, that prevents the seller or employee from engaging in a similar business within a specified geographical area and within a specified period.
the leading case on restraint of trade is Magna Alloys and Research ( SA) (PTY) Ltd Vs Ellis 1984 (4) 874 ( A). The Law on agreements in restraint of trade has changed as a result of this decision. Prior to the Magna Alloys case, South African courts have accepted that an agreement in restraint of trade is contrary to public policy and ...
“Parker C.J.,” he observes, “says a ‘restraint to carry on a trade throughout the kingdom must be void; a restraint to carry it on within a particular place is good’; which are rather instances and examples than limits of the application of the rule, which can only be at last, what is a reasonable restraint with reference to the ...
Mitchel v Reynolds (1711) 1 PWms 181 is decision in the history of the law of restraint of trade, handed down in 1711 in England.It is generally cited for establishing the principle that reasonable restraints of trade, unlike unreasonable restraints of trade, are permissible and therefore enforceable and not a basis for civil or criminal liability.
John Stuart Mill believed the restraint of trade doctrine was justified to preserve liberty and competition. The classical perspective on competition was that certain agreements and business practice could be an unreasonable restraint on the individual liberty of tradespeople to carry on their livelihoods. Restraints were judged as permissible ...
Addyston Pipe and Steel Co. v. United States, 175 U.S. 211 (1899), was a United States Supreme Court case in which the Court held that for a restraint of trade to be lawful, it must be ancillary to the main purpose of a lawful contract. A naked restraint on trade is unlawful; it is not a defense that the restraint is reasonable.
The Court recognized that "taken literally," the term "restraint of trade" could refer to any number of normal or usual contracts that do not harm the public. The Court embarked on a lengthy exegesis of English authorities relevant to the meaning of the term "restraint of trade." Based on this review, the Court concluded that the term ...
The English law of restraint of trade is the direct predecessor to modern competition law. [18] Its current use is small, given modern and economically oriented statutes in most common law countries. Its approach was based on the two concepts of prohibiting agreements that ran counter to public policy, unless the reasonableness of an agreement ...