Vertical Price Fixing Refers to

question 167

Multiple Choice

Vertical price fixing refers to

• A)two or more competitors explicitly or implicitly setting prices.
• B)the practice of charging different prices to different buyers for goods of like grade and quality.
• C)controlling agreements between independent buyers and sellers whereby sellers are required not to sell products below a minimum retail price.
• D)a conspiracy among firms to set prices for a product or service.
• E)a seller's requirement that the purchaser of one product also buy another product in the line.

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Definitions:

Injunction

A legal order from a court that compels a party to do or to refrain from doing specific acts, often used to prevent harm or to preserve status quo pending litigation.

Quantum Meruit

Quantum Meruit is a legal principle that allows a party to recover the reasonable value of services provided, even if there was no formal contract, under circumstances where payment is expected.

Substantial Performance

Substantial performance is a legal principle indicating that if a party has performed enough of its contractual obligations, they are entitled to payment, though possibly reduced for any unfinished or defective work.

Specific Performance

A legal remedy in contracts where the court orders one party to fulfill their specific duties under the contract, rather than seeking damages for breach.