Question

Darren is a certified interior designer with a lucrative client list in the city of​ kelsa, situated in the state of touslon. his business affords him a substantial amount of goodwill from his clients. darren sells his accounting interior designing business to glenda. when he sells his business to​ glenda, darren agrees not to open another interior designing firm in the city of kelsa for a​ 25-year period. what kind of agreement exists between darren and glenda in this​ case?

Answer 1

The agreement between Darren and Glenda is a non-compete agreement.

Step-by-step explanation:

The agreement between Darren and Glenda is a non-compete agreement. In this case, Darren agrees not to open another interior designing firm in the city of Kelsa for a 25-year period after selling his business to Glenda.

A non-compete agreement is a legally binding contract that restricts an individual from competing with a business in a specified geographical area for a certain period of time.

This type of agreement is common in business sales to protect the buyer's investment and ensure that the seller does not immediately open a competing business that could harm the buyer's new venture.

Answer 2

a verbal contract is the type of agreement