53-9-9. Sale of good will--Seller's agreement with buyer to refrain from carrying on similar business, validity.
Any person who sells the good will of a business may agree with the buyer to refrain from carrying on a similar business within a specified county, city, or other specified area, as long as the buyer or person deriving title to the good will from the seller carries on a like business within the specified geographical area.
Source: SDC 1939, §10.0706 (1); SL 1992, ch 60, §2; SL 1997, ch 274, §1.
Structure South Dakota Codified Laws
Chapter 09 - Unlawful Contracts
Section 53-9-1 - Contract provisions contrary to law, unlawful.
Section 53-9-2 - Gambling contracts void.
Section 53-9-3 - Contracts against public policy.
Section 53-9-4 - Penalties for nonperformance of contract void, exceptions.
Section 53-9-5 - Contracts fixing damages void, exception.
Section 53-9-7 - Contract in restraint of marriage void.
Section 53-9-8 - Contracts in restraint of trade void--Exceptions.
Section 53-9-11 - Employment contract--Limitation on competition.
Section 53-9-11.1 - Health care provider--Contract to restrict practice--Prohibition--Exception.
Section 53-9-13 - Coerce or compel an abortion--Contract void.