As a Result of a Conviction Under the Sherman Antitrust

question 1

Multiple Choice

As a result of a conviction under the Sherman Antitrust Act, Standard Oil of New Jersey

• A) was fined for its extensive price discriminating activity.
• B) was restrained from oil exploration for twenty-five years, which enabled other oil firms to assume leadership in the industry.
• C) was broken up into many smaller companies.
• D) went bankrupt and no longer is in existence.

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Definitions:

Actual Benefit

A term referring to the real, tangible advantages or gains received from a particular action, agreement, or situation.

Consideration

In contract law, a benefit which must be bargained for between the parties, and is the essential reason for a party entering into a contract.

Paid in Full

A declaration that all outstanding debts or obligations have been completely settled.

Liable

Legally responsible or obligated to do something, particularly paying compensation for harm or damage.