Final answer:
The statement that agreements to restrain trade to protect a promisee's property interest and that are reasonably necessary are enforceable is true, which reflects the legal basis for non-compete clauses and contractual rights protecting interests in economic transactions.
Step-by-step explanation:
The statement that an agreement to refrain from a particular trade, profession, or business is enforceable if the restraint is to protect a property interest of the promisee and is reasonable to protect that interest is true. This principle is commonly applied in business where non-compete clauses or agreements come into play. Such agreements must be carefully crafted to ensure they do not impose excessive restrictions, thereby enabling fair competition while still protecting legitimate business interests.
Contractual rights are deeply intertwined with property rights, allowing individuals to enter into agreements and have confidence that the legal system will enforce these contracts. In the example of an employment agreement between a surgeon and a patient, the contract ensures the surgeon's service is recognized as property, and non-payment would constitute theft of that property. The existence of such enforceable contracts is crucial in maintaining the functionality of trade and economic growth.