Create a 3 page essay paper that discusses Antitrust Law Case.
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The antitrust laws are enforced by the public and private sectors. The United States department of justice antitrust division and the federal trade commission divide the responsibility for investigating and litigating cases under the Sherman act, and they also consider potentially anticompetitive merges under the Clayton act. In the private sector, any person that is injured in his business or property by a violation of antitrust laws is at liberty to bring an action in court. A prevailing plaintiff is entitled to recover treble damages, costs of suits and also attorney’s fee. The private parties are sanctioned to obtain injunctive help to prevent threatened damages or losses. Most antitrust lawsuits are mostly by private litigants in search of damages for breach of federal and state antitrust laws. The Sherman act is not explicit about the prohibited conduct. On the Other hand, the Clayton act is a bit particular about activities that may be illegal. However, only when such conduct substantially lessens competition or leads to the creation of monopoly in any line of commerce neither of any that it is defined in the status.
The selling gasoline for less than cost violates the act because, Section 1 of the Sherman act contracts, partnership or conspiracies in restraint of trade, prohibits 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. A restraint of trade can be defined as an agreement between two or more individuals or entities that affect the process of competition.