BA 300 Exam 3 Completed Study Guide

BA 300 Exam 3 Completed Study Guide - Anti-trust o Know the...

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Anti-trust o Know the statutes that govern anti-trust law Sherman Act Clayton Act Federal Trade Commissions Act o Know the history of the statutes Sherman Act: created when rail roads were pooling together to set prices, was passed to stop this Clayton Act: designed to strengthen Sherman Act Federal Trade Commissions Act: FTC created the FTCA to enforce Clayton act FTC can issue cease and desist order : stop doing unlawful conduct Issue 10,000 per day civil penalty for not complying Private actions (non government) can file for treble damages which gives the person who sustained damage three times the monetary amount o What are the possible penalties for violation? Vertical Restraints: fixed agreements between people in the buyer/seller or supplier/supplied relationship (manufacturer -> buyer) EX. Manufacturer sells speakers to retailer under condition that retailer sells them at a fixed price Types: Resale Price Maintenance (Illegal per ce), Non Price like restraints of territory, location, and customer restrictions. Tying: Seller agrees to sell a product if the buyer also purchases a second product EX. Windows and Internet Explorer a few years ago Judge under Section 1 of Sherman Act, and Section 3 of Clayton Act Private Damages come from the Clayton Act Horizontal Restraints: agreement among competitors (equal level) or some other functional level. Competing manufacturers set a price Price Fixing, Division of Markets, concerted refusals to deal, and Group Boycott are per ce illegal, violation of Sherman Act - Summary of restraints that are illegal per ce : o Vert = retail price maintenance o Horiz = Price fixing, Division of markets, boycotts o What constitutes a violation? o Know Consent Decree Agency o How is an agency relationship formed? Principal has to tell agent to do something (manifests consent) and the agency has to accept
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o What are the types of agents? General Agent: authority to conduct series of transactions (transactions are typically related) Special Agent: Conducts one single transaction or several transactions here and there (transaction are not related) Broker: Person who is put in power to buy or sell things for commission Factor: Possession and control of a principal’s sales Ex. Is how take stuff to cosignment shop, they hold it while they
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BA 300 Exam 3 Completed Study Guide - Anti-trust o Know the...

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