Restraint Of Trade
Summary of Restraint Of Trade
Combinations, contracts, agreements, or arrangements, either oral or written, designed to effect a monopoly, impede competition, fix prices, retard entry into the field, or otherwise obstruct trade that would otherwise occur if left to natural economic forces. Acts in restraint of trade are generally viewed as contrary to public policy, and many are specifically prohibited by law. renewed without the necessity of amending the credit.
A revolving letter of credit may revolve according to time, in which case a fixed sum becomes available at the beginning of a given time period-monthly, for example. If sums unused during one period may be carried over to the next period, the letter of credit is said to be cumulative', if such unused sums cannot be carried forward, the letter of credit is noncumulative.
A revolving letter of credit may also revolve according to value; such credits have their value reinstated after each drawing. Unless an overall value is assigned to the credit, this type of instrument permits unlimited drawings; for this reason, it is not commonly used.
(Main Author: William J. Miller)
Law is our Passion
This entry about Restraint Of Trade has been published under the terms of the Creative Commons Attribution 3.0 (CC BY 3.0) licence, which permits unrestricted use and reproduction, provided the author or authors of the Restraint Of Trade entry and the Encyclopedia of Law are in each case credited as the source of the Restraint Of Trade entry. Please note this CC BY licence applies to some textual content of Restraint Of Trade, and that some images and other textual or non-textual elements may be covered by special copyright arrangements. For guidance on citing Restraint Of Trade (giving attribution as required by the CC BY licence), please see below our recommendation of "Cite this Entry".
Cite this entryLegal Citations Generator
|(2013, 12). Restraint Of Trade lawin.org Retrieved 08, 2015, from http://lawin.org/|
|"Restraint Of Trade" lawin.org. 12 2013. 08 2015 <http://lawin.org/>|
|"Restraint Of Trade" lawin.org. lawin.org, 12 2013. Web. 08 2015. <http://lawin.org/>|
|"Restraint Of Trade" lawin.org. 12, 2013. Accesed 08 2015. http://lawin.org/|
|William J. Miller, 'Restraint Of Trade' (lawin.org 2013) <http://lawin.org/> accesed 2015 August 29|
- Article Name: Restraint Of Trade
- Author: William J. Miller
- Description: Combinations, contracts, agreements, or arrangements, either oral or written, designed to effect a monopoly, impede [...]
This entry was last modified: December 1, 2013