Question

Q.13 Agreement in restraint of trade is void. Discuss
0.14 Distinguish between Recession and Injunction with examples​

Answer 1

Answer:

Part XIII of the Constitution of India contains provisions relating to the freedom of trade, commerce and intercourse within the territory of India. The provisions are laid down in articles 301-307. Just as the Legislature cannot take away individual freedom of trade, wise versa the individual cannot barter it away by agreement.

Protection under the Constitution of India

Part XIII of the Constitution of India contains provisions relating to the freedom of trade, commerce and intercourse within the territory of India. The provisions are laid down in articles 301-307. Just as the Legislature cannot take away individual freedom of trade, wise versa the individual cannot barter it away by agreement. “The Principle of law is this: Public policy requires that every man shall be at liberty to work for himself, and shall not be at liberty to deprive himself, skill or talent, by any contract that he enters into.” So plain meaning of Section 27 is every agreement by which any one is restrained from exercising a lawful profession, trade or business of any kind, is, to that extent, void.

Explanation:

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Answer 2

Agreement in restraint of trade is void:

• Agreement in restraint of trade is void under the act of Section 27.
• That is, an agreement that debars one individual from starting or continuing his profession or trade, in return for some deliberation is void.
• The Sherman Antitrust Act precisely comprises a section on restraint of trade and states it illegal.

Recession:

A recession is a macroeconomic term that mentions to a noteworthy decline in general economic activity in a selected region.  

Injunction:

An injunction is a legal and reasonable remedy in the form of a distinct court order that compels a party to do or refrain from explicit acts