restrictive covenant


restrictive covenant

In property law, an agreement acknowledged in a deed or lease that restricts the free use or occupancy of property, such as by forbidding commercial use or certain types of structures. The restrictive covenant is as old as the law of property, being well-established in Roman law. The term is also used in business law to refer to an agreement whereby one party promises not to engage in the same business or a similar business in a particular area for a period of time.

This entry comes from Encyclopædia Britannica Concise.
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