Chapter 5 Notes Business Law - Notes from Class of Chapter...

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Notes from Class of 02/13/14 Chapter 5 Notes The gov't can regulate businesses and business competition and prices. o Through ANTI TRUST LAWS Under Police Power , states may regulate all aspects of business as long as they do not impose an unreasonable burden on interstate commerce or any activity of federal gov't. The Anti-Trust laws step in when competitors create barriers to market entry or collide on prices or production in order to control prices. Unfair Competition is controlled by both statues and administrative agencies and regulations o Statues: Sherman Act (Sherman Anti-Trust Act) : regulates anticompetitive behavior among horizontal competitors Prohibition on price fixing (horizontal price fixing) Applies to buying, selling, manufacturing and production activities Boycotts among competitors are violations of the Sherman Act Clayton Act Robinson-Patman Act Federal Trade Commission Act
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