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MGT611 Business And Labour Law Assignment No.1 Solution Spring Semester 2013
“Kinds of Contract:”
Mr. Yasir is an MBA graduate and is interested in establishing his own business, but as he is a fresh graduate so he does not have some good ideas of what and how to start a business for himself. To achieve his goal and meet his aim, he finally joined the company of Mr. Khalid and Mr. Jamal, who deals in the computer accessories at famous center for such a business. They had an agreement of 2 years, in which Mr. Yasir agreed with the other partners that he will not carry on similar businesses at the business center until their current business comes to an end.
After six months of the agreement, Mr. Yasir starts the same computer accessory business in the same business center.
(a) Being a student of Business and labour law what kind of agreement took place between the three parties? Justify your answer. (Marks 10)
(b) What would be the consequences of Mr. Yasir decisions to have another business in the given scenario. Support your answer with solid arguments? (Marks 10)
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