1 FAIR COMPETITION THE FAIR COMPETITION ACT ARRANGEMENT OF SECTIONS 1. Short title. PART I. Preliminary 2. 3. Interpretation. Application of Act. PART II. The Fair Trading Commission 4. 5. 6. 7. 8. 9. 10. 11. Establishment of Commission. Functions of the Commission. Commission shall seek information. Powers of the Commission. Hearings to be held in public. Minister may give directions. Powers of entry and search‚ etc. Discontinuance of investigation. Financial Provisions‚ Accounts
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seize control of large corporations was to form a trust. The federal government passes a series of antitrust laws in order to have a successful economy. In order to stop the establishment of monopolies‚ the Sherman Antitrust law was passed in 1890 by Congress. The Supreme Court made the decision that contracts would be illegal if they formed an “unreasonable restraint of trade.” The Sherman Antitrust law “ provides that no person shall monopolize‚ attempt to monopolize or conspire with another to
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College Mascots Be Regulated? In Ryan Fulda’s article‚ "Is the NCAA Prohibition of Native American Mascots From Championship Play a Violation of the Sherman Antitrust Act?"‚ he introduces the controversy over having Native American mascots and symbols used by teams in college sports‚ and whether or not prohibiting the use of them violates the antitrust laws. In the rest of Fulda ’s article‚ he successfully breaks down how prohibiting the use of Native American influences could be considered as a violation
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Case Study Intel’s “rebates” and Other Ways It “Helped” Customers In your judgment is Intel a “monopoly”? Did Intel use monopoly-like power‚ in other words‚ did Intel achieve its objectives by relying on power that it had due to its control of a large portion of the market? Explain your answers. In my judgment Intel did react like a monopoly. Pure monopoly exists when a single firm is the sole producer of a product for which there are no close substitutes. The characteristics of a monopoly
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person’s ethical or unethical behavior in the workplace. a. True b. False 4. Regulations and laws were much stricter in the first quarter of the twentieth century than they are now. a. True b. False 5. The Interstate Commerce Act was the first federal act to regulate business practices. a. True b. False 6. A Latin phrase‚ caveat emptor‚ summarizes the vulnerable position that consumers were in the early 1900s. a. True b. False 7. The EPA is a federal agency charged with enforcing
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LWC1 STUDY PLAN CONTRACTUAL RELATIONSHIPS Key Topics 1. Types of Contracts 2. Breach of Contracts 3. Remedies for Breach of Contracts Study Questions Chapter 10 1. What is the definition of a contract? A promise that the law will enforce. 2. Describe the various types of contracts. Bilateral - both parties make a promise. Unilateral - One party makes a promise that the other party can accept only by doing something. Express - The two parties explicitly state all important
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violated laissez-faire to a moderate extent by issuing Railroad Land Grants before 1870 and eliminating them after‚ to a great extent by Regulating Interstate Commerce with the Interstate Commerce Act in 1886‚ and only to a limited extent by attempting to control trust activities with the Sherman Antitrust Act in 1890‚ producing a moderate government involvement overall. Government began to violate the concept of Laissez-Faire with its Railroad Land Grants. Laissez-Faire promoters believed that “…the
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the government enacted antitrust legislation. The Sherman Act of 1890 was the first legislation aimed at declaring restraint of trade and monopolization to be illegal. With the Sherman Act being somewhat vague the Clayton Act of 1914 sought to further empower the Sherman Act by banning price discrimination‚ prohibiting tying contracts‚ interlocking directories and acquisitions that lessen competition. Additional legislation in 1914 was the Federal Trade Commission Act which created the Federal
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would push reform as much as possible by strengthening the power of the federal government. The Sherman Antitrust Act of 1890 was an early attempt to try to control abuses by large combinations of businesses called trusts. The Act was weakened by the Supreme Court used against labor unions rather than against monopolies. Roosevelt’s first push for reform on the national level began with a secret antitrust investigation of the J. P. Morgan’s Northern Securities Company whom monopolized railroad traffic
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18-2 (Key Question) Describe the major provisions of the Sherman and Clayton acts. What government entities are responsible for enforcing those laws? Are firms permitted to initiate antitrust suits on their own against other firms? Sherman Act: Section 1 prohibits conspiracies to restrain trade; Section 2 outlaws monopolization. Clayton Act (as amended by Celler-Kefauver Act of 1950): Section 2 outlaws price discrimination; Section 3 forbids tying contracts; Section 7 prohibits mergers
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