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Harry Byrd played professional basketball at the highest level for some fifteen years for the Boston Celtic Corporation
Harry Byrd played professional basketball at the highest level for some fifteen years for the Boston Celtic Corporation. Byrd entered into an agreement with the Celtic Corporation whereby the Celtics would pay Byrd $100,00 per year for life because of his valued service to the organization during the past fifteen years. In addition, harry would make himself available for consultation and advice to the team and he would not coach any other team in the league. The Celtic Corporation paid Byrd for a period of three years and then refused to
pay repudiating (calling the contract unenforceable) the contract.
The president of the Celtics organization telephones your office and requests a
meeting in the morning. What will you tell him? Will the Celtics be able to use
the defense that Byrd's consideration is inadequate to enforce the contract?
Explain in detail.
Expert Solution
Answer:
The contract is valid and enforceable
Step-by-step explanation
The fact of the case is that Celtic entered i non-compete covenant for life with Harry at a consideration of $100,000 after his commendable service at the club for the last fifteen years .
Non-compete covenant at a consideration is a valid post employment contract that is enforceable. In regard to the above case; Celtic made an offer to pay Harry $ 100 000 per year and Harry is obliged to forfeit his right to coach in the league in which Celtic pays, secondly, Harry will provide regular consultation to Celtic.
Non-compete agreement is a legal practice with legal intent to bind
Both the club and Mr. Harry have the capacity to contract at will
Therefore, the contract had all the required elements hence Harry is eligible to remedy for the breach of contract if the club.
In reference to the above analysis of the status of the contract; The club should be aware to that encase they refuse to pay Harry, they are liable to the following damages
Monetary damages for the entire period and sequential damages due to missed coaching opportunity.
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