Explain Two of the Major U.S. Antitrust Laws

question 100

Essay

Explain two of the major U.S. antitrust laws.

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Definitions:

Implied Authority

When the authority of the agent is implied from surrounding circumstances, such as the position or title given (by the principal) to the agent.

Ratify

To officially approve or confirm actions, agreements, or treaties through a formal consent, typically by voting or signing.

Warranty

A guarantee provided by a seller regarding the condition of a product and the promise of repair or replacement if necessary.

Contract

A legally enforceable agreement between two or more parties with clear terms and conditions.