Clause 19 is termination. It says, either party may terminate this agreement by providing written notice to the other party. Except as otherwise provided in this agreement, all rights and obligations under this agreement will terminate at that time... It the moves straight on to clause 20 which is assignment.
Yes. It is a confidentiality agreement saying ivwont poach customers or staff. I won't release details of customers and suppliers. The non compete section says: if the transaction is not satisfactorily completed by the parties, then: a. Other than with express written consent of the purchaser, which consent may not be unreasonably withheld, the seller will not, until Jan 31st 2017, be directly or indirectly involved with a business which is in direct competition with the business lines of the purchaser that ate subject of this agreement. B. Until Jan 31st 2017 the seller will not divert or attempt to divert from the purchaser any business the purchaser has enjoyed or solicited..... I will tell you why I am asking that might help. We are in a small country town. We had a gift shop together and fell out. At the time we fell out and I signed this my husband had just opened a shop at the other side of toWN. The items sold are quite different with a few cross overs. My husband got a new contract and I have been looking after his shop for him. I'm not on payroll and everything is in his name. I want to revamp his shop to sell similar categories of products to my old shop. Can I get out of the agreement or if I don't go on payroll and keep everything in my husbands name can I still get sued by the 'purxhaser' in this Contract
Yes. Last January I had to sign this before she would pay me. The payment went through and all partnership accounts and tax returns paid and finished. I have no connection there any more
Yes confirmation of £2000. A letter from her saying I can have money when I sign this agreemenT that she agreed to buy me put for that price. Termination of partnership on tax return. Receipt of the amount she agreed to pay
Like I say it's a small town so direct competition us everywhere e.g. Every shop sells greeting cards. If she could wwin, and I pay her costs she would consider it out of spite probably!! It is a very generic form downloaded off the internet. The confidentiality bits even go into things like me not sharing computer coding which we never had etc. So you think I don't have to write a letter to satisfy clause 19? Or does that mean termination before the transaction was complete?