Covenant Not To Complete
Legal agreement not to perform an activity similar to that performed by another individual or business. This contractual provision may be necessary to keep trade secrets, prevent taking away existing clients using the current business's methods, or otherwise seriously impair the activities of the existing business.. Foe example, a real estate broker who signs a covenant not to complete may prohibit him from opening up a real estate brokerage firm within 50 miles for a two-year period. this restriction is particularly important when the employee is highly qualified and will likely develop a strong customer following. However, if the restriction is very excessive, it may be legally unenforceable.
Popular Real Estate Terms
The act or removing or dispossessing or expulsion of an individual from a premise by force or law. ...
Insurance protection for the replacement cost of damaged property. Thus, the accumulated depreciation is not subtracted in determining the amount of reimbursement. ...
Simulation that enables investors to determine variations in the rate of return on an investment property in accordance with changes in a critical factor. It is an experiment with decision ...
English architecture. This style has two levels with the second level typically overlaying the first story. The roof is high and the chimney is sculptured. ...
Decline in value of real estate property because it is near something which is damaging to its worth. For example, a house located next to a pollution treatment center, drug center, or ...
Obtaining all the money needed for a real estate project's development. The acquirer/developer does not need to give any of his own funds for upfront costs. The developer also does not have ...
Extent to which soil has cavities or pores, thereby allowing water to pass through. soil productivity;Ability of the soil to accomplish the desired objective such as its capacity for ...
Right to enter and start construction or furnishing property that is in the process of being purchased. ...
Detailed financial accounting of all the credits and debits for the buyer and seller upon consummation of a real estate sale. ...
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