Every agreement in restraint of the marriage of any person other than a minor is void. It means that any agreement which prevents a person from marring is void. Thus, if a Muslim having two living wives promises any of his wives not to marry again, then the agreement is void. A promise to marry particular person is not considered restraint of marriage under commercial law. Every agreement by which anyone is restrained from exercising a lawful profession, trade or business of any kind, is to that extent void. An agreement that interferes with a person’s right to engage in any lawful trade, occupation or profession is called an agreement in restraint of lawful trade, occupation or profession is called an agreement in restraint of lawful business corporate law. Every person has a right to carry on any lawful trade, business or profession. Every agreement by which, any party thereto is restricted absolutely from enforcing his right under or in respect of any contract in corporate law. By the usual legal proceedings in the ordinary tribunals, or which limits the time within he may enforce his rights, is void to that extent. It means an agreement which prohibits a person from taking judicial proceedings in respect to any right arising from a contract is void in commercial law. Similarly, an agreement which reduces the period of limitation prescribed by law of limitation is void because the object is to defeat the provisions of law. The company may agree that in case of dispute among the parties, the dispute will be referred to arbitration.
Business law is also called as commercial law and it includes all the transactions required for a business. Law of partnership is a type of commercial law. It is defined as an association of two or more persons who contribute their money, time and property and work as the co owners and carry the business to maximize their profits.
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