I have a friend how owns a small company in NJ. He wants to set a minimum price that the people selling his product and any people distributing his product can sell his product at. An attorney told him that it was legal but when I googled it for him I thought it said you can do it in NJ but I didn't really understand. Can anyone help?
Under current NJ law, no. NJSA 56:4-1.1 states that any contract provision that purports to restrain a vendee of a commodity from reselling such commodity at less than the price stipulated by the vendor or producer shall not be enforceable or actionable at law. If you find this answer help please mark it as "helpful" or "best answer". Your feedback is greatly appreciated.
If you found this Answer helpful, please mark it as "Best Answer". Your feedback is greatly appreciated. Peter J. Lamont, Esq. Law Offices of Peter J. Lamont 623 Lafayette Avenue, Suite 2, Hawthorne, NJ 07506 Phone: (973) 949-3770 Fax: (866) 603-0471 Toll Free: (855) NJLAW01 (855) 655-2901 www.peterlamontesq.com Additional Offices in New York, Monument, CO, San Juan, PR and affiliates throughout the country. PLEASE NOTE: The above statements are provided for informational purposes only and do not constitute legal advice. Transmission of the information is not intended to create, and the receipt does not constitute, an attorney-client relationship between sender and receiver. You should not act or rely on any information contained on this site without first seeking the advice of an attorney.