To be valid, a noncompete clause must be
A) ancillary to a legitimate bargain
B) reasonable in time, geographical area, and scope of activity when ancillary to the sale of a business.
C) necessary to protect trade secrets, confidential information, or customer lists developed over an extended time when ancillary to an employment contract.
D) All of the above.
D
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Indicate whether the statement is true or false
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On March 1 . 2014, Hardy Corp became the lessee of new equipment under a noncancelable six-year lease. The total estimated economic life of this equipment is ten years. The fair value of this equipment on March 1 . 2014, was $100,000 . The lease does not meet the criteria for classification as a capital lease with respect to transfer of ownership of the leased asset, or bargain purchase option,
or lease term. Nevertheless, Hardy must classify this lease as a capital lease if, at inception of the lease, the present value of the minimum lease payments (excluding executory costs) is equal to at least a. $67,500. b. $75,000. c. $90,000. d. $100,000.