agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act.
kindly make a clear explanation of this with example!
thanks in advance
This we can divide in 3 points.
1. Activity of Agreeing to the Obligation to Refrain from Act : It means any act , which bind the person , for not doing a particular act in the given circumstances. Eg. Non-compete fees for not doing a particular business, or not practice a particular profession.
2. Activity of Agreeing to the Obligation to tolerate an Act or a situation : It means accept the existence of Act ,which is imposed by condition, in Contract, Agreement, or any Documents which is legally enforceable by Law
Eg: penalty on early termination of Aggreement, Late delivery charges Etc.
3. Obligations to do an Act : It means to do something, prescribed in an agreement, contract ,which is required under any law for time being in Force
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