It is necessary to peruse agreement executed by you to advice
any agreement in restraint of trade is void under section 27 of contract act
I did Non compete Agreement With my Brother for 30 year i want to Cancel this agreement with in 10 year time So it is Possible by law
It is necessary to peruse agreement executed by you to advice
any agreement in restraint of trade is void under section 27 of contract act
Yes, if you brother is willing to do so then you both can entered into cancellation of Non Compete Agreement.
Hello,
What are the contents of NDA?
If anyone of its clauses allows both of you then YES otherwise NO.
Therefore viewing of contents of NDA is essential to advice you lawfully for your question and issue raised in this post.
You need to send him a legal notice and cancel. If he goes to court you need to contest case for the same
- Non compete agreement means , that that the Executive will not, directly or indirectly, alone or in association with any other Person, participate in the ownership, management, operation, financing or control of, or be employed by or consult for or otherwise render services to, any Competitor in any country in which the Company or a Related Person has conducted business, or Form of Amendment to Employment Agreement demonstrated its intention to conduct business, during the last two years prior to the termination of the Executive’s employment.
- Further , as per Section 27 of the Indian Contract Act-1872 provides that ”Every agreement by which anyone is restrained from exercising a lawful profession or trade or business of any kind, is to that extent void, except the one who sells goodwill of a business with a buyer to refrain from carrying on a similar business within specified local limits so long as the buyer, or any person deriving title to the goodwill from him, carries on a like business therein provided that such limits appear to the court reasonable, regard being had to the nature of business.
- Further , the Supreme Court in the matter of Percept D'Mark (India) Pvt. Ltd. Versus Zaheer Khan and Another. held that , under Section 27 of the Contract Act (a) a restrictive covenant extending beyond the term of the contract is void and not enforceable. (b) The doctrine of restraint of trade does not apply during the continuance of the contract for employment and it applied only when the contract comes to an end.
- Hence, legally you can cancel this agreement within 10 years of period after sending a legal notice to your brother.
Every agreements can be altered, modified or even revoked with the consensus of both parties.
Therefore in your case also you can terminate this non compete agreement ar any point of time.
Why did you enter into a non compete agreement with your brother, is it any business agreement or what.
The non compete agreement cannot be entered for such a long period.
You can revert with details so that you can get more proper opinion.
Yes you can send him a notice for cancellation of agreement to intimate him about date after which you will not follow terms of that agreement and if he have any objection then reply before that date Otherwise agreement will stand cancelled automatically.
Dear Sir,
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