Have Bruce and Jimmy Violated the Sherman Act

question 62

Multiple Choice

Have Bruce and Jimmy violated the Sherman Act?

• A) Yes, they violated Section 1.
• B) Yes, they violated Section 2.
• C) No, there is no violation because they are not engaged in intrastate commerce.
• D) No, there is no violation because they have not established a monopoly.
• E) No, there is no violation because at least three businesses must be involved in order to establish a violation of the Sherman Act.

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Definitions:

Privity of Contracts

A doctrine in contract law that states that contracts are binding only upon the parties signing the agreement, and no third party can enforce or be obliged by the contract.

Legal Doctrine

A principle or framework of principles established through precedent in case law which guides judicial decision-making.

Breaches

Instances where a rule, law, or agreement is violated or broken.

Compensatory Damages

Financial compensation awarded to a plaintiff to cover actual losses, harm, or injury they have suffered as a result of the defendant's actions.