McClure v. Young

Appellant and appellee were the own- ' ers of the capital stock and jointly operated the McClure-Young Hardware Company, Inc., in the city of Walnut Ridge. On January 22, 1935, appellee purchased appellant’s stock therein and they entered into a written contract, one clause of which reads as follows: ‘ ‘ That party • of the first part further covenants and agrees not to enter or become interested in, either directly or indirectly, the retail hardware and/or furniture business in the city of Walnut Ridge, Arkansas, for and during the period of three years from the date hereof; and it is…