The restraint of trade implies that ‘’a man contracts to give up some freedom which otherwise he would have had’’. The autonomy of an individual is crucial in creating and maintaining contractual relationships. The law should not limit the person’s liberty to exercise their profession or skill. On the other hand, free flow of labour and resources is essential for a market economy to be functioning. Both principles are benefiting the community and the effort to reconcile these two conflicting principles by the courts should be appreciated. The courts are required to articulate the choice of a principle depending on the circumstances of each case.
There is a growing appreciation of the importance of contractual relationship while promoting
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The court may remove those words which render the clause too wide; as long as the nature of the contract is retained. The doctrine of severance also known as ‘blue pencil test’ was considered by the House of Lords in Nordenfelt. The operation of the doctrine can be found in the case of Goldsoll v Goldman. The parties were engaged in selling imitation jewellery and in order to avoid competition, the defendant sold his business to the plaintiff. The restraint clause purported to restrict the defendant from engaging in businesses selling real or imitation jewellery across more than 5 countries for a period of 2 years. The restraint could only be imposed after limiting the geographical scope of the clause and exclusion of selling real jewellery. Such limitations may promote greater competition and reflect the value of free market. A restraint in particular industry will not interfere with party’s freedom in other …show more content…
This might be the effect of adapting to the capitalism and free market environment. In principle, the law provides no implied restriction and employees are completely free to compete with a former employer after termination. A restraint of trade may only be applicable, where the employer has a genuine interest to protect. This would include goodwill and confidential information. The equity law may protect the confidential information, but the goodwill must be expressly protected. The court imposed some serious limitations on the enforceability of restraint clauses. The employer’s interest should not be protected for a period that is longer than necessary and the restraint should not be imposed on a greater geographical area than necessary. The law governing the restraint of trade is likely to develop due to the implementation of flexible working practices and accessibility of information.
The current law on post-employment restrictive practices is set out in the case of Beckett Investment Management Group Ltd. v Hall. The restraint clauses should only be imposed against senior staff, who possess significant confidential information and the terms of the restraint must be supported by adequate consideration. This judgement suggests that 12 months appears to be the upper limit in duration of the restraint. The limitations are welcomed. Employees at junior position or performing normal jobs should not be
Trade is the most common form of transferring ownership of a product. The concepts are very simple, I give you something (a good or service) and you give me something (a good or service) in return, everyone is happy. However, trade is not limited to two individuals. There are trades that happen outside national borders and we refer to that as international trading. Before a country does international trading, they do research to understand the opportunity costs and marginal costs of their production versus another countries production. Doing this we can increase profit, decrease costs and improve overall trade efficiency. Currently, there are negotiations going on between 11 countries about making a trade agreement called the Trans-Pacific
Marshall, A. B., & Broas, J. M. (2009). Getting it right in reductions in force: How to minimize legal risks. Venulex Legal Summaries, 18-25. Retrieved from EBSCOhost
It has moved from an exclusive power of the national government to regulate the trade of good and services on an international level to include interstate activities. The nation is growing and new problems are continuing to emerge. The commerce clause has to adjust also, in order to meet the demands of the changing world and its’ needs. The federal government still has the power to regulate interstate commerce. It still remains the reason for the increased federal regulation on the economy. The national economy is growing. It is no surprise to see that areas such as agriculture, finance industry and other services have increased and been included in laws governing these areas
The law provides several rights and freedoms, but there are also limits to the rights provided to employees according to the law. Employee rights are limited to performance in the sense that, they should work to meet the employers targets irrespective of the rights granted to them by the law (John, 2015). Secondly, employee’s rights are limited to discipline. Hence, they should be always committed towards following work place rules and procedures including time adherence, respect of organizations property, and dressing properly at the place of work.
The commercial activity has been, over the centuries, linked to human activity, due to the need to obtain satisfactory. The evolution of trade throughout history presents issues of immense importance to understand the current configuration of trade, However, for the purposes of this research we will be observing what is free trade so we can understand and interpret every point that we will be talking about in this investigation. Free Trade is an economic concept, referring to the sale of products between countries, duty-free and any form of trade barriers. Free trade involves the elimination of artificial barriers (government regulations) to trade between individuals and companies from different countries.
Blanpain, R and Bamber, G J. (2010). Comparative Labor Law and Industrial Relations in Industrialized Market Economies: Xth and Revised Edition. Alphen aan den Rijn: Kluwer Law International.
What really makes economics and society flow nicely together? Economics can be described as the social science that deals with the production, distribution, and consumption of goods and services. Society is described as the social relationships among us. The answer is always changing as well as the economical and sociological thoughts behind it as well. This paper will relay a couple economic views from the poem “Cotton And Corn: A Dialogue” by Thomas Moore (1779-1852), an Irish poet. Should people be allowed to trade with whomever they want to? We’ve been doing it for thousands of years. There should always be fare/free trade, even if the government manipulates it a little bit. If there is an unhappy consumer out there, there is at least one unhappy firm. People should be able to trade freely and hardly controlled by the government. Too much of the time the government regulates it too much, and we lose some of our free trade rights, as this poem illustrates. As François Quesnay believed the idea of “Laissez-Fair,” the government should have very little control, if no control over the economy at all. The government will then regulate heavily, create high tariffs, embargoes, and other forms of monopoly to accumulate wealth. This poem was written about the famed Corn Laws that took place in England, that limited the trade of corn to other countries if international rates fell bellow a certain value. The government didn’t want wealth to leave the country, as they stopped importing corn, wouldn’t export their corn out, and monopolized peasants to buy the countries corn with a regulated price. This is third idea, is a form of mercantilism. Hoarding a countries wealth, and building up power. Thomas Moore addresses some of these views by introducing thoughts about fare trade, how the government can control/manipulate trade, and mercantilism, in his poem about the Corn Laws. The question is then, with all of this government supervision and control over trade, how do economies prosper and stay alive and well?
"Monopolies and Combinations in Restraint of Trade." U.S. Code Collection. N.p.: n.p., n.d. N. pag. Print. 28 Mar. 2014.
United States of America. National Employment Law Project. National Employment Law Project. N.p., Jan. 2011. Web. 18 May 2014.
In the article, "Seven Moral Arguments for Free Trade," Daniel Griswold provides just what the title suggests, seven arguments on why free trade is a good thing to have in a country. Griswold is co-director of the Program on the American Economy and Globalization at the Mercatus Center at George Mason University, which builds his credibility on the topic. His article was published in the CATO policy report, in which Griswold explains thoroughly why free trade is beneficial to all. The article explains how free trade benefits the individual in many ways, but also how it has a global impact as well.
The judgment that the industrial court took were biased in the view of perspective of the company and not as on behalf of an employee. The judgment that was made could affect the current employees in many ways that it might have made other employees demotivated to work, the workers might feel insecure of their job, and the employees might also feel not needed. The employees may feel demotivated to work because the employees will start feeling worried if they are in any case injured and not able to perform its job effectively the company would medically board the workers out as well; and because of this reason the employees may feel demotivated and the production of the company may also fall. Not only that the employees that might feel insecure of its own job will start looking for other jobs in other companies because they feel that the employees in the current company will not appreciate them if they are not able to perform their job just in case if they are involve in any accidents that might affect their jobs. As because of all these reasons, the company also might get badly affected if its employees start reacting badly after the decision of the judgment that the industrial court
[12] University of Central Florida, Barbara Moore’s Slides, Antitrust and Industrial Policy, 2003?, 15 March 2004, <http://www.bus.ucf.edu/moore/forms/eco2023_b001_ch19.pdf>
Based on common law and precedent, the English law of contract has been formulated and developed over a number of years with it’s primary purpose to provide a regulated framework within which individuals can contract freely. In order to ensure a contract is enforceable there are certain elements which must be satisfied, one of which is the doctrine of consideration. Lord Denning famously professed; “the doctrine of consideration is too firmly fixed to be overthrown by a side wind” . This is a crucial indication that consideration has long been regarded as the cardinal ‘badge of enforceability’ in the formulation and variation of contracts in English common law.
The courts of England and Wales acknowledge that the above must be something of value, in order to amount to consideration. A valuable consideration in the perspective of the English La...
As defined in the trade disputes act section 2 “it is the cessation of work by a body of employees in any trade or industry acting in combination or under a common understanding or a concerted refusal or a refusal under a common understanding by such body of employees to continue to work”.