The Clayton Act

question 83

Multiple Choice

The Clayton Act:

• A)was passed in 1985 over the objections of then President Reagan.
• B)outlaws racial discrimination in the practice of business.
• C)outlaws the ownership of stock by the U.S. government unless it is in public enterprises.
• D)outlaws price discrimination unless based on cost differences.

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Definitions:

Endorsement

The act of signing the back of a negotiable instrument, which allows for the transfer of rights from one party to another or specifies particular conditions of transfer.

Conditional Endorsement

An endorsement on a negotiable instrument that imposes conditions on the use or payment of the instrument.

Payment

The transfer of money or goods from one party to another as compensation or for goods and services received.

Restrictive Endorsement

A limitation placed on a check or other negotiable instrument, specifying conditions under which it can be transferred.