28-2-704. Exception -- sale of goodwill of business.
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/mt/title-28/chapter-2/part-7/28-2-704·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
28-2-704 . Exception -- sale of goodwill of business.
(1)A person who sells the goodwill of a business may agree with the buyer to refrain from carrying on a similar business within the areas provided in subsection
(2)so long as the buyer or any person deriving title to the goodwill from the buyer carries on a like business in the described areas.
(2)The agreement authorized in subsection
(1)may apply in:
(a)the city where the principal office of the business is located;
(b)the county where the principal office of the business is located;
(c)a city in any county adjacent to the county in which the principal office of the business is located;
(d)any county adjacent to the county in which the principal office of the business is located; or
(e)any combination of the areas in subsections (2)(a) through (2)(d).