Pennsylvania appears to be the only state that has adopted
the Uniform Written Obligations Act (33 Pa. Cons. Stat. Ann. § 6 (West)), which
provides as follows: “A written release or promise hereafter made and signed by
the person releasing or promising, shall not be invalid or unenforceable for
lack of consideration, if the writing also contains an additional express
statement, in any form of language, that the signer intends to be legally
bound.”
Based on that statutory language,
Judge Lancaster of the Federal District Court for the Western District of
Pennsylvania held in Latuszewski v. Valic
Fin. Advisors, 2007 U.S. Dist. LEXIS 93329, 2007 WL 4462739 (W.D. Pa. Dec.
19, 2007) that for a non-compete covenant entered into subsequent to the
commencement of the employment relationship, the statement of intent of the
parties to be legally bound acts as a valid substitute for consideration where
the agreement stated that the employee “agree[s] to be legally bound to all the
terms and conditions in the Registered Representative Agreement.”
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2 comments:
NOT anymore. See Socko v. Mid-Atlantic Systems of CPA, Inc., 1223 MDA 2013 (Pa. Super. May 13, 2014)
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