Clayton Antitrust Act


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Clayton Antitrust Act,

1914, passed by the U.S. Congress as an amendment to clarify and supplement the Sherman Antitrust ActSherman Antitrust Act,
1890, first measure passed by the U.S. Congress to prohibit trusts; it was named for Senator John Sherman. Prior to its enactment, various states had passed similar laws, but they were limited to intrastate businesses.
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 of 1890. It was drafted by Henry De Lamar Clayton. The act prohibited exclusive sales contracts, local price cutting to freeze out competitors, rebates, interlocking directorates in corporations capitalized at $1 million or more in the same field of business, and intercorporate stock holdings. Labor unions and agricultural cooperatives were excluded from the forbidden combinations in the restraint of trade. The act restricted the use of the injunctioninjunction,
in law, order of a court directing a party to perform a certain act or to refrain from an act or acts. The injunction, which developed as the main remedy in equity, is used especially where money damages would not satisfy a plaintiff's claim, or to protect personal
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 against labor, and it legalized peaceful strikes, picketing, and boycotts. It declared that "the labor of a human being is not a commodity or article of commerce." Organized labor was as heartened by the act as it had been dejected by the doctrine of the Danbury Hatters' CaseDanbury Hatters' Case,
decided in 1908 by the U.S. Supreme Court. In 1902 the hatters' union instituted a nationwide boycott of the products of a nonunion hat manufacturer in Danbury, Conn.
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, but subsequent judicial construction weakened the act's labor provisions. The Clayton Antitrust Act was the basis for a great many important and much-publicized suits against large corporations. Later amendments to the act strengthened its provisions against unfair price cutting (1936) and intercorporate stock holdings (1950).
References in periodicals archive ?
agricultural cooperatives); Clayton Antitrust Act of 1914, 15 U.
15, 1914, the Clayton Antitrust Act, which expanded on the Sherman Antitrust Act of 1890, was signed into law by President Woodrow Wilson.
Hagens Berman said Google infringed various federal antitrust laws such as the Sherman Act, Clayton Antitrust Act, California Unfair Competition Law and California Cartwright Act.
Wedral's continued service on the Board may be a violation of Section 8 of The Clayton Antitrust Act of 1914, as amended, as well as the Company's Code of Conduct.
Fifty petitioners who said they have been customers of the two airlines and will likely continue to be in the future said the merger violates Section 7 of the Clayton Antitrust Act as it will curb competition within the airline industry.
Wilson continued the drive toward greater federal regulation of economic activity with the signing of the Clayton Antitrust Act and legislation to create the Federal Trade Commission.
Part III identifies tolling doctrines that courts can use to solve the problems associated with the discovery accrual rule and proposes a new tolling rule for RICO taken from the Clayton Antitrust Act.
lt;p>The Clayton Antitrust Act of 1914 prohibits a person's presence on the board of two rival companies when it would reduce competition between them.
25) the Supreme Court considered a class action brought under the Clayton Antitrust Act of 1914 by plaintiffs who had purchased hearing aids from a manufacturer that they alleged had fixed prices with its rivals and its retailers.
Additionally, the complaint claims the airline is in violation of both the Sherman Antitrust Act and the Clayton Antitrust Act, the first of which Korean Air has reportedly admitted guilt to in a deal with the U.
The Clayton Antitrust Act passes, creating the Federal Trade Commission.