Section 27Agreement in restraint of trade void Saving of agreement not to carry on business of which good- will is sold

s. 27

27. Agreement in restraint of trade void Saving of agreement not to carry on business of which good- will is sold Every agreement by which any one is restrained from exercising a lawful profession, trade or business of any kind, is to that extent void. Exception 1.–One who sells the good-will 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 good-will 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. Exception 2 and 3. [Repealed by section 73 and 2nd Schedule of the Partnership Act, 1932 (Act No. IX of 1932).]