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
Number of small holes in a wall allowing water to drain from it. This makes the walls able to withstand water pressure. ...
Tax deduction permitted upon the transfer of property from one spouse to another. The deduction is allowed under the federal gift tax for lifetime transfers or under the federal estate tax ...
One of a series of inclined structural supports supporting a roof. ...
Attorney whose name officially appears in permanent records of a case or an appeal thereto, or on the appearance docket. It gives public notice of the attorney who is handling the case. ...
generic name of the form used to file taxes payable to a federal, state, or local government. The tax return includes items such as gross income, deductions, tax credits, and tax due. ...
You’ll find the most common definition and use of the term ‘perimeter’ in mathematics, more precisely geometry, to determine an item’s or land’s surface area. ...
Individual or entity that divides up a large piece of owned land into smaller pieces generally for the purpose of developing them into homes for sale in the future. ...
The part of the amount received from selling or exchanging real property that is taxable income. ...
Nationwide group of independent real estate brokers who cooperate together and share information regarding clients who are seeking to relocate from one area of the country to another. The ...
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