NUANCES of the Non-Compete Covenant

Abstract

It is an agreement between two or more parties under which either party pledges himself to the other to do or forebear from doing certain things of common interest. Covenants are classified in several ways: Absolute or conditional, affirmative or negative declaratory or obligatory, dependent, concurrent or independent, executed or executor, express or implied, general or specific, principal and auxiliary, transitive or intransitive, etc., (refer Black’s Law Dictionary) Tax law has to deal with restrictive covenants.