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HP8477
Business law
| Term | Definition |
|---|---|
| Sherman Antitrust Act | A federal statue prohibiting combinations and contracts in restraint of interstate trade, now generally inapplicable to labor union activity |
| market power | the ability to control price and exclude competitors |
| Divestiture order | a court order to dispose of interests that could lead to a monopoly |
| Clayton Act | a federal law that prohibits price discrimination |
| Robinson-Patman Act | a federal statue designed to eliminate price discrimination in interstate commerce |
| Prince discrimination | the charging practice by a seller of different buyers for commodities of similar grade and quality, resulting in reduced competition or a tendency to create a monopoly |
| Tying | the anticompetitive practice of requiring buyers to purchase one product in order to get another |
| Treble damages | three times damages actually sustained |
| Administrative agency | government body charged with administering and implementing legislation |
| Administrative law | law governing administrative agencies |
| Administrative Procedure Act | federal law that operating rules for administrative agencies |
| Freedom of Information Act | federal law permitting citizens to request documents and records from administrative agencies |
| Open meeting law | law that requires advance notice of agency meeting and public access |
| Federal Register Act | federal law requiring agencies to make public disclosure of proposed rules, passed rules, and activities |
| Federal Register | government publication issued give days a week that lists all administrative regulations, all presidential proclamations and executive orders, and other document and classes of documents that the president or Congress direct to be published |
| Administrative law judge (ALJ) | judicial figure who hears administrative agency actions. |
| Informal settlements | negotiated disposition of a matter before an administrative agency, generally without public sanctions |
| Consent decrees | informal settlements of enforcement actions brought by agencies |
| hearing examiner or hearing officer | another name for an administrative law judge |
| intervenors | in administrative actions, third parties who have an interest in the issues being determined by an ALJ |
| cease-and-desist order | order issued by a court or administrative agency to stop a practice that it decides is improper. |
| exhaustion of administrative remedies | requirement that an agency make its final decision before they parties can go to court |
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