(DOWNLOAD) "Robert G. Beneke & Co. v. Bobby Ray Cole" by Dallas No. 19,160 The Fifth Court of Civil Appeals * eBook PDF Kindle ePub Free
eBook details
- Title: Robert G. Beneke & Co. v. Bobby Ray Cole
- Author : Dallas No. 19,160 The Fifth Court of Civil Appeals
- Release Date : January 30, 1977
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 65 KB
Description
Robert G. Beneke & Co. sued for liquidated damages for breach of a restrictive covenant in an employment contract executed by Beneke and Bobby Ray Cole, appellee. After a non-jury trial, the court found that Cole had violated the restrictive covenant, but declined to award liquidated damages because the contractual provision therefor constitutes a penalty. Beneke appeals and contends that the trial court's finding that the contract contained a penalty provision rather than a liquidated damages provision is erroneous as a matter of law and, alternatively, is contrary to the great weight and preponderance of the evidence. We hold that the provision as written constitutes a penalty as a matter of law, and, accordingly, we affirm the judgment. Beneke is a public adjuster and, in fact, controls eighty to ninety percent of this kind of business in Dallas County. Cole had been a successful claims adjuster representing insurance companies for many years before his employment by Beneke. The contract in dispute was executed at the time of employment, and Cole admits that he read and understood all provisions. He further admits that he terminated his employment with Beneke and in violation of the contract entered into the same business in Dallas County and presently is in competition with his former employer.