Learn vocabulary, terms, and more with flashcards, games, and other study tools. The state attorney general also may bring an action to enforce the state's own antitrust laws. State Antitrust Laws. The Purposes of Antitrust. fire, security). Mergers and acquisitions are common, but federal authorities have acted against them on behalf of consumers. The Antitrust Laws. Mr. Fleming, for many years New York Business Correspondent of the Christian Science Monitor, is a prominent free-lance writer on business and economics. Antitrust laws protect consumers and commerce from unfair business practices such as unfair restraints, monopolies, and price-fixing. Step-by-step answer 02:43 0 0. Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors that raises, lowers, or stabilizes prices or competitive terms. This problem has been solved! What was the Sherman Antitrust Act quizlet?-Passed in 1890, the Sherman Antitrust Act was the first major legislation passed to address oppressive business practices associated with cartels and oppressive monopolies. Antitrust laws … Little has changed over the last century in terms of the wording of our antitrust statutes. Harold M. Fleming. The goal is to level the playing the field in the free market and prevent businesses from having too much power. Antitrust laws are statutes developed by governments to protect consumers from predatory business practices and ensure fair competition. Start studying AntiTrust Law. Interstate Commerce Commission Act. Videos. Show transcribed image text. Antitrust laws regulate the way companies do business. In merger investigations, a state attorney general may cooperate with federal authorities. You just studied 8 terms! Generally, the antitrust laws require that each company establish prices and other terms on its own, without agreeing with a competitor. They may bring federal antitrust suits on behalf of individuals residing within their states ("parens patriae" suits), or on behalf of the state as a purchaser. Click on a state on the map or select from the list of states below for state-specific antitrust laws, including types of suits that are possible, and time limits for bringing an antitrust case. Congress passed the first antitrust law, the Sherman Act, in 1890 as a "comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade." Price Fixing. Section 1: prohibits contracts, combinations and conspiraci…, required by plaintiff to prove defendant violated section 1 (c…, between firms at different levels of production or distributio…, cellophane fallacy. The Clayton Antitrust Act is an amendment passed by U.S. Congress in 1914 that provides further clarification and substance to the Sherman Antitrust Act of 1890 on topics such as price discrimination, price fixing and unfair business practices. Correctly Identify The First Antitrust Law And Its Purpose. Saturday, April 1, 1967. See the answer. In 1914, Congress passed two additional antitrust laws: the Federal Trade Commission Act, which created the FTC, and the Clayton Act. The Supreme Court, unlike the intermediate appellate courts of the federal system, has discretion to choose the cases it will hear, and its choices have a profound effect on the development of antitrust law. Antitrust law is the broad category of federal and state laws that are meant to keep business operating honest and fairly.
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