Business and Financial Services
Restrictive Covenant as a Restraint of Trade
Virginia courts disfavor restraints on trade and will enforce restrictive covenants only when they are reasonable between the parties and do not harm the public. In this Bean, Kinney & Korman article published in the BKK Business Law Newsletter, James V. Irving explains that BP Products v. Stanley involved a covenant requiring an Alexandria gas station owner to purchase all fuel and petroleum products exclusively from BP. The article notes that the court refused to enforce the covenant because…
September 1, 2010