Q&A Hero

Q: The purpose of the Sherman Act was to: A. legalize monopolies. B. preserve competition. C. create trusts. D. restrict competition. E. legalize trusts.

Q: In 1914, Congress, recognizing that the Sherman Act needed to be more specific, enacted the _____ as an amendment to the Sherman Act. A. Clayton Act B. Fair Credit Billing Act C. Securities Act D. Truth in Lending Act E. Robinson-Patman Act

Q: Violations of the original Clayton Act were crimes, and the act contained sanctions for forfeiture of property.

Q: The Robinson-Patman amendment extends only to transactions in interstate commerce.

Q: In full-line forcing, the buyer is forced to purchase only one product of the line.

Q: The Federal Trade Commission is an independent administrative agency charged with keeping competition free and fair through the enforcement of the Sherman Act.

Q: The FTC prevents wrongful actions by the use of cease and desist orders.

Q: A vertical territorial agreement is one between a manufacturer and a dealer or distributor.

Q: Concerted activities are illegal per se.

Q: A manufacturer announcing its prices and refusing to deal with those who fail to comply is a method of legally controlling the retail price.

Q: Vertical agreements involving pricing (high and low) and territorial arrangements within channels of distribution are analyzed under the rule of reason.

Q: According to the per se rule, price fixing is illegal only when the parties have control of the market.

Q: The per se rule makes price fixing illegal when it results in higher prices but doesn't apply to agreements to ensure lower prices.

Q: Agreements between competitors relating to the price to be charged for a product or service are in violation of the Sherman Act if those agreements threaten free competition.

Q: Under what is commonly referred to as the Colgate doctrine, the Supreme Court recognizes that independent action by a manufacturer is a per se violation of the Sherman Act.

Q: Resale price maintenance is legal only if there is no coercion or pressure other than the announced policy and its implementation.

Q: Defendants often use a plea of nolo contendere in civil actions to avoid the use of evidence from the trial being used in the criminal case.

Q: The normal activities of labor unions are exempt from the Sherman Act.

Q: Horizontal price fixing occurs when manufacturers attempt to set the ultimate retail price for their products.

Q: If the prices fixed are fair or reasonable, it is not considered to be price fixing.

Q: An express agreement is not required to create a contract in restraint of trade.

Q: Mere possession of monopoly power is not a violation of the Sherman Act.

Q: The test of reasonableness asks whether challenged contracts or acts are unreasonably restrictive of competitive conditions.

Q: If an action is determined to be illegal per se, the courts are not required to apply the rule of reason to analyze the case further.

Q: Crimes under the Sherman Act are felonies.

Q: A trust is a fiduciary relationship in which the trustee holds equitable title and the beneficiaries hold legal title to the trust property.

Q: The Department of Justice alone has the power to bring criminal proceedings in cases of violations of antitrust laws.

Q: Private parties may bring criminal suits seeking monetary damages or injunction as a means of enforcing antitrust laws.

Q: An express agreement is a must to create a contract in restraint of trade.

Q: The Sherman Act regulates monopolies after they are formed, but does not regulate mere attempts to monopolize.

Q: The Robinson-Patman amendment recognizes certain exceptions. What are they?

Q: What is the purpose of the The Robinson-Patman amendment?

Q: What are franchise contracts?

Q: Name and discuss the four different types of mergers.

Q: Why did Congress pass the Celler-Kefauver amendment?

Q: How does the FTC prevent illegal business practices?

Q: What are concerted activities?

Q: What led to the enactment of the Clayton Act?

Q: What necessitated the Robinson-Patman amendment to the Clayton Act?

Q: The cable operators in North Bedford agreed to divide the market among themselves, with each operator assigned a specific region in the city. Discuss the relevance of this agreement with reference to the Sherman Act.

Q: Differentiate between horizontal and vertical price-fixing.

Q: What is the Noerr-Pennington doctrine?

Q: What is per se illegality and how is it applied?

Q: Explain the provision of triple-damage in section 4 of the Clayton Act.

Q: "There is a significant relationship between the criminal antitrust prosecution and the civil suit for triple damages." Explain.

Q: Name some of the businesses and activities that are exempt from the Sherman Act.

Q: Can the existence of a monopoly be lawful? Explain why or why not.

Q: Explain the concept of predatory conduct in trade.

Q: Explain the rule of reason.

Q: "For purposes of the rule of reason, Sherman Act violations may be divided into two categories." Explain.

Q: Regulation is a form of taxation. Explain.

Q: List the criticisms of administrative process relating to procedures.

Q: The Wheeler-Lea amendment of 1938 made unfair or deceptive acts or practices in commerce illegal under: A. the Sherman Act. B. the Noerr-Pennington doctrine. C. the Clayton Act. D. the Robinson-Patman Act. E. the Federal Trade Commission Act.

Q: What led to the enactment of the Sherman Act in 1890?

Q: What is the purpose of the Sherman Act and what does it cover?

Q: Explain the difference between the two doctrines that guide courts in the judicial review of agency adjudications.

Q: What must an agency do for the courts to exercise their function of limited review?

Q: Is delegation of a rule made by an administrative agency valid?

Q: Agencies are created to provide expertise. Explain.

Q: Regulation is often a substitute for competition. Explain with example.

Q: Explain advising as a function of agencies.

Q: Elucidate the responsibilities of a secretary.

Q: According to U.S. Supreme Court, why should broad meaning be given to the concept of standing to sue?

Q: How is imposition of undue burdens dealt with?

Q: How does the commerce clause prohibit discrimination against interstate commerce?

Q: What is apportionment of business tax?

Q: Describe administrative agencies. What are the two types of administrative agencies?

Q: What are the basic functions of administrative agencies?

Q: How is the exclusively federal area of government regulation different from the exclusively state area?

Q: How has been the Controlled Substances Act (CSA) interpreted?

Q: How is federal preemption a dual regulation of commerce?

Q: Explain the joint regulation that includes situations in which the federal regulation of a subject matter is not comprehensive enough to preempt the field.

Q: What are irreconcilable conflicts?

Q: Police powers have limitations. Explain.

Q: What is the Commerce Clause? What are the analyses required under this clause?

Q: To what extent do the federal and state governments have power to regulate foreign commerce?

Q: How broad is the power of Congress over commerce?

Q: Summarize police powers.

Q: Which of the following doctrines applies when a claim is originally filed in the courts? A. The doctrine of estoppel B. the doctrine of exhaustion of remedies C. The doctrine of lapse D. the doctrine of primary jurisdiction E. The doctrine of precedent

Q: Which of the following is an issue of administrative agencies that relates to the people involved? A. The volume of rules adopted by agencies is beyond the ability of the business community to keep up with and comply with. B. The reward system usually does not make a significant distinction between excellent, mediocre, and poor performances. C. The administrative process is overwhelmed with paperwork and with meetings. D. Enforcement of some laws varies over time. E. There is often a lack of enforcement procedures to follow up on actions taken to ensure compliance.