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Evolution of Statutes
The Sherman Act and Clayton Act were landmark pieces of legislation that formed many of the present day business practices in the United States. Using this week's resources and others that you investigate, discuss the purposes of these acts and how they have evolved over the years. How have the courts influenced the impact of these statutes? How are the Sherman Act and the Clayton Act still relevant today? Describe how the Sarbanes-Oxley Act, the Foreign Corrupt Practices Act, and other statutes affected the Sherman and Clayton Act.
Course Text
â?¢ Essentials of Business Law
â?¢ Chapter 34, â??Business and the Environmentâ?
Chapter 34 describes the federal government regulations pertaining to environmental issues that include pollution and the changing global climate.
Websites
â?¢ Securities and Exchange Commission (SEC)
http://www.sec.gov
The SEC establishes standards of financial accounting and reporting for publicly held companies under the Securities Exchange Act of 1934 and is designed to protect investors and maintain markets.
â?¢ Cornell University Law School Legal Information Institute Universal Commercial Code Index
http://www.law.cornell.edu/ucc/
The Legal Information Institute is an online source to help people read and understand the laws that govern society.
â?¢ Federal Trade Commission (FTC)
http://www.ftc.gov
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Evolution of Statutes
The Sherman Act and Clayton Act were landmark pieces of legislation that formed many of the present day business practices in the United States. Using this week's resources and others that you investigate, discuss the purposes of these acts and how they have evolved over the years. How have the courts influenced the impact of these statutes? How are the Sherman Act and the Clayton Act still relevant today? Describe how the Sarbanes-Oxley Act, the Foreign Corrupt Practices Act, and other statutes affected the Sherman and Clayton Act.
The Sherman Act and Clayton Act required the federal government to play a proactive role in investigating and regulating businesses if they violate the provisions of the act. Initially, the Sherman Act was passed in 1890 to limit cartels and monopolies but this law was initially not used till 1894 against American Railway union. The purpose of the Sherman Act was to oppose business combinations that could restrict or harm competition. An important purpose of the Sherman Act was to disallow the raising of prices by trade restrictions or restricting supply. The purpose of Sherman Act was to maintain competition for the benefit of consumers.
The evolution of the Sherman Act was strengthened by the passing of the Clayton Act in 1914. This act adds several specific activities by businesses that are ...
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