Publication Date: 2024-02-12
Practice Area: Contracts
Industry: Financial Services and Banking
Court: Delaware Supreme Court
Judge: Justice Traynor
Attorneys: For plaintiff: C. Barr Flinn, Paul J. Loughman, Alberto E. Chávez, Skyler A. C. Speed, Young, Conaway, Stargatt & Taylor, LLP, Wilmington, DE; David A. Paul, Virginia J. Cardenas, Sid Nadkarni, Cantor Fitzgerald, New York, NY; Benjamin R. Nagin, Eric G. Hoffman, Sidley Austin LLP, New York, NY; Tacy F. Flint, Frank J. Favia, Jr., Sidley Austin LLP, Chicago, IL for appellant.
for defendant: Blake A. Bennett, Cooch & Taylor P.A., Wilmington, DE; Kyle W. Roche, Kyle Roche P.A., New York, NY; Velvel Freedman, Alex Potter, Freedman Normand Friedland LLP, New York, NY for appellees.
Case Number: 162, 2023
A "forfeiture-for-competition" provision in a partnership agreement did not qualify as a restraint on trade, and thus partners who had negotiated and benefitted from such a term would be held to the terms of their agreement due to the Delaware Revised Uniform Limited Partnership Act's express favor for the enforceability of contracts.
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