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Chicago Board Of Trade V. United States
''Chicago Board of Trade v. United States'', 246 U.S. 231 (1918), was a case in which the Supreme Court of the United States applied the " rule of reason" to the internal trading rules of a commodity market. Section 1 of the Sherman Act flatly states: "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal."Sherman Antitrust Act of 1890, § 1 (excerpt). However, in evaluating the U.S. government's allegations that the Chicago Board of Trade's rules on grain prices violated the Act, the Supreme Court rejected a strict interpretation of its language: "The true test of legality is whether the restraint imposed is such as merely regulates and perhaps thereby promotes competition or whether it is such as may suppress or even destroy competition." Facts Defendant Chicago Board of Trade (CBOT) is a commodity market, dealing in spot sales (sales of grain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Writ Of Certiorari
In law, ''certiorari'' is a court process to seek judicial review of a decision of a lower court or government agency. ''Certiorari'' comes from the name of an English prerogative writ, issued by a superior court to direct that the record of the lower court be sent to the superior court for review. The term is Latin for "to be made certain", and comes from the opening line of such writs, which traditionally began with the Latin words "''Certiorari volumus''..." ("We wish to be made certain..."). Derived from the English common law, ''certiorari'' is prevalent in countries utilising, or influenced by, the common law''.'' It has evolved in the legal system of each nation, as court decisions and statutory amendments are made. In modern law, ''certiorari'' is recognized in many jurisdictions, including England and Wales (now called a "quashing order"), Canada, India, Ireland, the Philippines and the United States. With the expansion of administrative law in the 19th and 20th cent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price-fixing
Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand. The intent of price fixing may be to push the price of a product as high as possible, generally leading to profits for all sellers but may also have the goal to fix, peg, discount, or stabilize prices. The defining characteristic of price fixing is any agreement regarding price, whether expressed or implied. Price fixing requires a conspiracy between sellers or buyers. The purpose is to coordinate pricing for mutual benefit of the traders. For example, manufacturers and retailers may conspire to sell at a common "retail" price; set a common minimum sales price, where sellers agree not to discount the sales price below the agreed-to minimum price; buy the product from a supplier at a specified maxi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Commodity And Futures Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Antitrust Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Supreme Court Cases
This page serves as an index of lists of United States Supreme Court cases. The United States Supreme Court is the highest federal court of the United States. By Chief Justice Court historians and other legal scholars consider each Chief Justice of the United States who presides over the Supreme Court of the United States to be the head of an era of the Court. These lists are sorted chronologically by Chief Justice and include most major cases decided by the Court. * Jay, Rutledge, and Ellsworth Courts (October 19, 1789 – December 15, 1800) * Marshall Court (February 4, 1801 – July 6, 1835) * Taney Court (March 28, 1836 – October 12, 1864) * Chase Court (December 15, 1864 – May 7, 1873) * Waite Court (March 4, 1874 – March 23, 1888) * Fuller Court (October 8, 1888 – July 4, 1910) * White Court (December 19, 1910 – May 19, 1921) * Taft Court (July 11, 1921 – February 3, 1930) * Hughes Court (February 24, 1930 – June ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1918 In United States Case Law
This year is noted for the end of the World War I, First World War, on the eleventh hour of the eleventh day of the eleventh month, as well as for the Spanish flu pandemic that killed 50–100 million people worldwide. Events Below, the events of World War I have the "WWI" prefix. January * January – 1918 flu pandemic: The "Spanish flu" (influenza) is first observed in Haskell County, Kansas. * January 4 – The Finnish Declaration of Independence is recognized by Russian Soviet Federative Socialist Republic, Soviet Russia, Sweden, German Empire, Germany and France. * January 9 – Battle of Bear Valley: U.S. troops engage Yaqui people, Yaqui Native American warriors in a minor skirmish in Arizona, and one of the last battles of the American Indian Wars between the United States and Native Americans. * January 15 ** The keel of is laid in Britain, the first purpose-designed aircraft carrier to be laid down. ** The Red Army (The Workers and Peasants Red Army) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Antitrust Law
In the United States, antitrust law is a collection of mostly federal laws that regulate the conduct and organization of businesses to promote competition and prevent unjustified monopolies. The three main U.S. antitrust statutes are the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914. These acts serve three major functions. First, Section 1 of the Sherman Act prohibits price fixing and the operation of cartels, and prohibits other collusive practices that unreasonably restrain trade. Second, Section 7 of the Clayton Act restricts the mergers and acquisitions of organizations that may substantially lessen competition or tend to create a monopoly. Third, Section 2 of the Sherman Act prohibits monopolization. Federal antitrust laws provide for both civil and criminal enforcement. Civil antitrust enforcement occurs through lawsuits filed by the Federal Trade Commission, the United States Department of Justice Antitrust Division, and priva ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Power
In economics, market power refers to the ability of a firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit. In other words, market power occurs if a firm does not face a perfectly elastic demand curve and can set its price (P) above marginal cost (MC) without losing revenue.Syverson, C. (2019). Macroeconomics and Market Power. The Journal of Economic Perspectives, 33(3), 23-43. https://doi.org/10.1257/jep.33.3.23 This indicates that the magnitude of market power is associated with the gap between P and MC at a firm's profit maximising level of output. Such propensities contradict perfectly competitive markets, where market participants have no market power, P = MC and firms earn zero economic profit. Market participants in perfectly competitive markets are consequently referred to as 'price takers', whereas market participants that exhibit market power are referred to as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louis Brandeis
Louis Dembitz Brandeis (; November 13, 1856 – October 5, 1941) was an American lawyer and associate justice on the Supreme Court of the United States from 1916 to 1939. Starting in 1890, he helped develop the "right to privacy" concept by writing a ''Harvard Law Review'' article of that title, and was thereby credited by legal scholar Roscoe Pound as having accomplished "nothing less than adding a chapter to our law." He was a leading figure in the antitrust movement at the turn of the century, particularly in his resistance to the monopolization of the New England railroad and advice to Woodrow Wilson as a candidate. In his books, articles and speeches, including ''Other People's Money and How the Bankers Use It'', and '' The Curse of Bigness'', he criticized the power of large banks, money trusts, powerful corporations, monopolies, public corruption, and mass consumerism, all of which he felt were detrimental to American values and culture. He later became active in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oligopsony
An oligopsony (from Greek ὀλίγοι (''oligoi'') "few" and ὀψωνία (''opsōnia'') "purchase") is a market form in which the number of buyers is small while the number of sellers in theory could be large. This typically happens in a market for inputs where numerous suppliers are competing to sell their product to a small number of (often large and powerful) buyers. It contrasts with an oligopoly, where there are many buyers but few sellers. An oligopsony is a form of imperfect competition. The terms monopoly (one seller), monopsony (one buyer), and bilateral monopoly have a similar relationship. Industry examples In each of these cases, the buyers have a major advantage over the sellers. They can play off one supplier against another, thus lowering their costs. They can also dictate exact specifications to suppliers, for delivery schedules, quality, and (in the case of agricultural products) crop varieties. They also pass off much of the risks of overproduction, natural ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopsony
In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service. This is a similar power to that of a monopolist, which can influence the price for its buyers in a monopoly, where multiple buyers have only one seller of a good or service available to purchase from. History Monopsony theory was developed by economist Joan Robinson in her book ''The Economics of Imperfect Competition'' (1933). Economists use the term "monopsony power" in a manner similar to "monopoly power", as a shorthand reference for a scenario in which there is one dominant power in the buying relationship, so that power is able to set prices to maximize profits not subject to competitive constraints. Monopsony power exists when one buyer faces little ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
