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Section 27 - Agreement in restraint of trade void : Indian Contract Act 1872

 

Is Agreement in restraint of trade void? Section 27 of Indian Contract Act 1872

Section 27 of Indian Contract Act 1872 : "Agreement in restraint of trade void"

27. Every agreement by which anyone is restrained from exercising a lawful profession, trade or business of any kind, is to that extent void.

Saving of agreement not to carry on business of which goodwill is sold.-Exception 1.-One who sells the goodwill of a business may agree with the 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 the business.

 

INDIAN CONTRACT ACT 1872

Section 21 - Effect of mistakes as to law

Section 22 - Contract caused by mistake of one party as to matter of fact

Section 23 - What considerations and objects are lawful and what not

Section 24 - Agreements void, if considerations and objects unlawful in part

Section 25 - Agreement void, if made without consideration

 

 

Section 26 - Agreement in restraint of marriage void

Section 27 - Agreement in restraint of trade void

Section 28 - Agreements in restraint of legal proceedings void

Section 29 - Agreements void for uncertainty

Section 30 - Agreements by way of wager void

 

 

CHAPTER III CONTINGENT CONTRACTS

Section 31 - Contingent contract defined

Section 32 - Enforcement of contracts contingent on an event happening

Section 33 - Enforcement of contracts contingent on an event not happening

Section 34 - When event on which contract is contingent to be deemed impossible, if it is the future conduct of a living person

Section 35 - When contracts become void which are contingent on happening of specified event within fixed time

 

 

Section 36 - Agreements contingent on impossible events void

CHAPTER IV THE PERFORMANCE OF CONTRACTS

Section 37 - Obligation of parties to contracts

Section 38 - Effect of refusal to accept offer of performance

Section 39 - Effect of refusal of party to perform promise wholly

By whom contracts must be performed

Section 40 - Person by whom promise is to be performed

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