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15 U.S.C. § 1 — Trusts, etc., in restraint of trade illegal; penalty

submitted 136 years ago by ch. 647 to r/title-15-COMMERCE-AND-TRADE · 96 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section, part of the Sherman Antitrust Act, bans contracts, combinations, or conspiracies that restrain trade among states or with other nations. Breaking it is a felony. A company can be fined up to $100,000,000; a person up to $1,000,000, ten years in prison, or both.

This section bans certain agreements and sets a criminal penalty for breaking the ban. The ban. Every contract, every combination in the form of a trust or otherwise, and every conspiracy that restrains trade or commerce among the states, or with foreign nations, is declared illegal. The penalty. Anyone who makes such a contract, or takes part in such a combination or conspiracy, is guilty of a felony. Upon conviction, a corporation may be fined up to $100,000,000. Any other person (an individual) may be fined up to $1,000,000. Either type of person may also, or instead, be sentenced to prison for up to 10 years. The court decides the punishment, and may impose both the fine and the prison time together.
the actual law source: uscode.house.gov ↗public domain

Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $100,000,000 if a corporation, or, if any other person, $1,000,000, or by imprisonment not exceeding 10 years, or by both said punishments, in the discretion of the court.

Source credit: (July 2, 1890, ch. 647, § 1, 26 Stat. 209; Aug. 17, 1937, ch. 690, title VIII, 50 Stat. 693; July 7, 1955, ch. 281, 69 Stat. 282; Pub. L. 93–528, § 3, Dec. 21, 1974, 88 Stat. 1708; Pub. L. 94–145, § 2, Dec. 12, 1975, 89 Stat. 801; Pub. L. 101–588, § 4(a), Nov. 16, 1990, 104 Stat. 2880; Pub. L. 108–237, title II, § 215(a), June 22, 2004, 118 Stat. 668.)

history & why it existsrecord from the source credit
  • 1890Enacted · Act of July 2, 1890, ch. 647 · 26 Stat. 209
  • 1937Amended · Act of Aug. 17, 1937, ch. 690 · 50 Stat. 693
  • 1955Amended · Act of July 7, 1955, ch. 281 · 69 Stat. 282
  • 1974Amended · Pub. L. 93-528 · 88 Stat. 1708
  • 1975Amended · Pub. L. 94-145 · 89 Stat. 801
  • 1990Amended · Pub. L. 101-588 · 104 Stat. 2880
  • 2004Amended · Pub. L. 108-237 · 118 Stat. 668

A history note hasn’t been published yet. The record shows enactment by ch. 647 on 1890-07-02.

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