Sale of Business Agreement’s Non-Compete Upheld by Virginia Supreme Court
In Parr v. Alderwoods Group, Inc., 268 Va. 461 (2004), a family sold its funeral home business to a holding company. The holding company signed a lease for the funeral home property; and, the family signed a non-compete that prohibited them from opening a competing funeral home after the sale of the business.
After the sale closed, the holding company began making regular lease payments. Several years into . . .