...Antitrust Laws & Their Effects Jamar Averyhart Dr. Law Trine University In order to have a free economy you must have a competitive market place. A market that is open and stimulates the economy. This gives consumers whether they are organizations or just regular citizens the opportunity to purchase consumer goods at a relatively low price. As opposed to other economies that are not open markets, and that have one firm dominating the market place. Which drives up the price of consumer goods and make them unreasonably high. This is where antitrust laws come into play ("The Antitrust Laws," 2015). What are antitrust laws? Antitrust laws keep organizations from creating monopolies in industries, or colluding to drive up the price of items. If two major firms i.e. Apple and Microsoft were to merge. They control a large majority of the marketplace in the computer industry. This merger would lead to a shift in the price of computer and computer technology. It would create unequal competition and drive many other firms out of business. With the resources and consumer base that both companies have they would be able to dictate the prices in the industry and not have to rely on consumer demand and market trends. The first ever antitrust law was passed in 1890 which was the Sherman Act ("The Antitrust Laws," 2015). The Sherman Act made it illegal to try to form a monopoly, have a monopoly, or plan to have one. ("The Antitrust Laws," 2015) With the Sherman Act violating any...
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...Abstract Anti-trust laws were created to stop businesses that are to big from blocking the competition and abusing their power over other businesses. Example 1 Why would the drug maker want to stymie generic competition? Explain. There is one major reason that any pharmaceutical company would attempt to stymie generic competition of any loss of their revenues’. Generic brands of drugs are normally provides the exact same level of benefits just at a much lower cost. The drug makers would defiantly lose millions of dollars by allowing a generic copy of their drug to be sold. The second reason would be the cost of making the drug along with advertising and marketing it as well would cost thousands of dollars. Along with the cost of researching, design, manufacturing, and compliances that goes with the federal regulations. This would mean more money out for the company. They would need to pay for any competition that would hinder any potential success of their product. With all this we also need to consider that the fact of a company’s success would to keep the investors willing to resource their projects, studies and the funding for all those developments. The company wants to make the investors happy so that they wouldn’t lose them, if they don’t maintain a certain level of profitability to keep them happy. Without the investors they would go belly up. What types of legal barriers to market entry exist? When a pharmaceutical has more marketing power they...
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...to govern fair and equitable trade and business practices. However, with competition came regulation for business and trade. A Competitive America As Americans we love to compete. Therefore it is no wonder that the United States economy is based on competition. Promoting competition is accepted as the best way to promote consumer well-being. America’s anti-trust laws have been in place for more than 100 years, since the Industrialization of America protecting the consumer’s rights. However, more countries have passed anti-trust laws in the past 20 years. America’s anti-trust laws were passed to focus on anti-competitive practices. Americans have long loved free market system and the competition that it fosters. Competition among businesses has been regulated by anti-trust acts recently; however they help to maintain a fair and equitable system where the small business is able to compete with the big business. The anti-trust laws enable the consumer to purchase a quality product at an affordable price due to the competitive market that it sets in place between the businesses. Anti-trust laws are needed to continually handle the companies that would be dishonest in business practices if not for regulations and rules....
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...collects the most money. In business, this is illegal and antitrust laws are what mandates and controls corporate America’s ability to create monopolies. This attempts to keep a fair playing field among competitors in similar businesses (Ftc Guide To Antitrust Laws, 2008). With the current health care debate issues concerning anti trust laws are also an issue for concern. A major facet of President Obama’s health care reform is for those within the health care community from providers to drug companies to commit on some level to keeping down cost. According to the New York Times, “Any agreement among competitors with regard to prices or price increases — even if they set a maximum — would raise legal concerns” (Pear, 2006) Anti-trust laws are imperative to keep the market competitive regardless of the type of business one runs. However, especially in terms of medical care it is important that issues, such as price gouging do not take place because of the large number of people who struggle with health care cost. Unfair business practices are always a point within business constantly under monitoring and creating changes because of said monitoring. Health care is essential to the everyday lives of the American people, from those who can afford to pay cash for their medical services to those who use public assistance, and everyone in between. If any area of business needs to stay abreast of issues concerning anti trust laws and monopoly health care is number one because of the domino...
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...Conveyancer and Property Lawyer 2009 Occupation rents and the Trusts of Land and Appointment of Trustees Act 1996: from property to welfare? Susan Bright Subject: Real property. Other related subjects: Trusts Keywords: Co-ownership; Occupation; Rent; Trustees' powers and duties Legislation: Trusts of Land and Appointment of Trustees Act 1996 s.13 (6) *CONVPL 378 This article considers what changes have been made in relation to occupation rents following the enactment of the Trusts of Land and Appointment of Trustees Act 1996 (“TLATA”). The two particular questions focused on are “liability”, that is, the circumstances in which a co-owner can be required to pay an occupation rent (or “compensation” as it is called under TLATA) to a non-occupying co-owner, and “quantum”, that is how the amount of this rent should be assessed. The issues commonly arise in the residential context, when a property initially bought as a shared home is occupied by only one of the co-owners following relationship breakdown, but can equally occur in a commercial context, for example, as part of the dissolution of a business partnership run from co-owned premises.1 Prior to the Act, most claims arose in the context of claims for equitable accounting when the property came to be sold. The apportionment of the proceeds of sale between the co-owners would reflect not simply a division based on the size of their respective shares, but could be adjusted to take account of the fact that whilst the...
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...up by reason of relationships of trust and confidence or confidential relations. Introduction Fiduciary is an important issue arises in business relationships, in partnerships, it helps create a fair business environment for all the parties when working together, in agency, it protects the principles' benefits, in corporations, it may lead the business operates properly and legally. Therefore, fiduciary obligations are closely related to co-operations Trust and confidence are the most important elements in these fiduciary relations, in this essay, the relationship of a fiduciary obligation and above relations will be demonstrated and explained. Table of Content Introduction P.1 Table of Content P.2 The Basic Concept of Fiduciary P.3 Fiduciary Concepts and Obligation vs Partnership Relations P.6 Fiduciary Concepts and Obligation vs Corporate Relations 1. Directors P.8 2. Promoters P.11 Conclusions P.13 Bibliography P.14 The Basic Concept of Fiduciary Fiduciary, under oxford’s dictionaries’ definition, is trustee who is given control or powers of administration of property in trust with a legal obligation to administer the beneficiary’s interest, and the Cambridge dictionary defines “relating to the responsibility to look after someone else's money in a correct way”. It is obvious that the fiduciary concept involves the element of mutual trust and confidence: the property or interest...
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...antitrust laws. Antitrust laws enable a free market to thrive and flourish without the fear of monopolization. Monopolization in itself isn’t a bad thing. There are naturally occurring monopolies like public utilities and when a firm is the only producer of a particular good or service. This single firm or company because the scale of economies is so large that they can supply the entire market at a lower cost than any other competing firm could. Monopolies become a problem when a firm or corporation is the only producer selling a particular good or service, this monopoly wills tend to produce fewer products at a high price. This meanwhile is not productive of a free market. The antitrust laws that are in place today came about from the Sherman Act of 1890. This act was created when the public grew resentfully of the trusts that emerged in the 1870’s and 1880’s. The Sherman Act states that “Every contract, combination in the form of a trust or otherwise, or conspiracy, in restraint of trade or commerce among several states, or with foreign nations is declared to be illegal.” This surprising short sentence is the cornerstone for our antitrust laws today. The Sherman Act basically outlawed restraints of trade, meaning anything that would restrain the flow of free trade. This gave a firm foundation for new and current business to enter into the market place; there would be no fear that they would be pushed out of the market either by price-fixing or collusion. These antitrust laws allowed...
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...TRUST DEED This Deed of Public Charitable Trust executed on this ____ day of ___________ by Mr. XXXXXXXXXXXXXXXXXXXXXXXXXXXX, S/o. Sri. Venkateswarlu, aged 63 years, Occupation : Business, resident of Inlukudurupet, Machilipatnam, Kirshna District, Andhra Pradesh, hear in after called “Author of the Trust”, (which expression shall, unless excluded by repugnant to the context, be deemed to include his executors, administrators and representatives) of one part and 1. Mr. XXXXXXXXXXXXXXXXXXXXXXXXXXXX, S/o. Sri. XXXXXXXXX, aged 63 years, Occupation : Business, resident of Door No: XXXXXXXXXXXXXXXX District, Andhra Pradesh Hereafter referred to as “Trustee” ( which expression shall, unless excluded by or repugnant to the context, be deemed to include the trustee or trustees duly appointed for the time being of these presents and their successors in office ) of the other part. Whereas the Author of the Trust is desirous of establishing a trust for public charitable objects. And whereas the trustee has, at the request of the Author of the Trust, agreed to act as the first trustee of these presents as testified by his being parties to and executing these presents. And whereas it is necessary to declare the object and terms of the public charitable trust being constituted under these presents. NOW THIS INDENTURE WITNESSETH AS FOLLOWS: 1. That, in order to effectuate his aforesaid desire, the Author of the Trust has set apart and handed over to the...
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...IRREVOCABLE OR NOT? MODIFICATIONS TO TRUSTS ERIC G. REIS Partner Thompson & Knight, LLP 1722 Routh Street, Suite 1500 Dallas, Texas 75201 Phone: (214) 969-1118 Fax: (214) 880-3183 State Bar of Texas 33 Annual Advanced Estate Planning and Probate Course June 10-12, 2009 Houston, Texas rd CHAPTER 10 NOTICE: In compliance with requirements imposed by IRS Circular 230, please be advised that any tax advice contained in this outline is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or other matter addressed herein. TABLE OF CONTENTS I. II. INTRODUCTION. ...................................................................................................................................................................1 LEGAL CONSIDERATIONS. .................................................................................................................................................1 A. Texas Trust Code Provisions on Modification of Trusts. ....................................................................................................1 B. Merger of Trusts..................................................................................................................................................................2 C. Sale to New Trust. .............................................
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...title by the same person 2)unity of time-title should hv been derived at the same time 3) U of interest-each co owner is entitle to the entity of the land 4) U of possession each co owner is entitle to posses the land & cannot oust the co owner.//JT under the JT each co owner is entitle to whole of the land further the doctrine of ius accresendi(right of survivorship)//Convey in in TC –s1(6)LPA1925 Legal estate is nt capable of subsisting or of being created in an undivided share in land(TC cannot be created in law) S36(4) of settled land Act1925 provides that an undivided share in Land shall only take effect behind the trust of land.S34(2)-whr a Land is to be convey to any persons in undivided shares the conveyance shall operates as if the L has been expressed to be covaid as JT held in the property in trust for the person in trusted in law.Conway in land in JT- 36(1)LPA –LE is beneficiary limited to or held in trust for any persons in JT same shall be held in trust in like manner as if the persons Beneficiary were entitled TC. (Severing JT-) *Alienation Intervivos(during life time)*S36(2)of LPA 1925 the party that wants to severe the property should gv all other JT > a notice in writing,It must be given all the JT s ,IT must contain evidence of an immediate intention to severe the property Re drapers conveyance held such an intention was sufficient to severe a JT.*Acquiring a different interest >this is where a co tenet has required a different interest to what he initially...
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...Wills, Trusts & Estates Prof Blog http://lawprofessors.typepad.com/trusts_estates_prof/ Wills, Trusts & Estates Prof Blog Editor: Gerry W. Beyer Texas Tech Univ. School of Law A Member of the Law Professor Blogs Network Sponsored by Wolters Kluwer Wednesday, September 10, 2014 The Changing Seasons of Financial Planning By Gerry W. Beyer Share Just as there is a spring, summer, fall and winter, there are also four financial seasons of life that include accumulation, preservation, distribution and succession. Approaching your finances with these four seasons can help keep you on track to reaching you long-term goals. 1. Accumulation Season. This is the longest financial season and the time spent accumulating wealth sets the foundation for your entire life. This is an important stage to set your financial goals and save and invest wisely. 2. Preservation Season. During this time, it is important to protect the money you have worked hard to accumulate so you can depend on it during retirement. This is the time to begin assessing your risk tolerance and perhaps become more conservative with investment dollars. 3. Distribution Season. Income planning is critical during this season, as you determine how to make the most of your financial savings. Consider your tax liabilities in retirement and the order from which you withdrawal from your retirement savings. 4. Succession Season. You must consider what will happen with the remainder of your life savings after you pass...
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...The Future of Social Security Paula Allen COM 156 December 11, 2010 Joy V'Marie The Future of Social Security Social Security will not meet the needs of the younger generations in retirement because the depletion of funds in the Social Security trusts. The age requirement is predicted to rise to 70 by 2037 for those who can draw full benefits. There are people who survive on their monthly benefits from Social Security, but how long will it be before they cannot live on this amount of money? Under current laws and program benefits, the future of Social Security is unstable unless changes are made. Once the trust funds are exhausted, the funds do not have the ability to borrow money to keep paying benefits to those who receive them. So, what can the government do to protect the future of these trusts and ensure their stability for the future? The minimum age to start drawing Social Security is 62, but to draw full benefits a person must be 66. The current age to draw full benefits is 66 and will change to 67 soon because of the Social Security Amendments of 1983. The majority of American people are waiting to a much later age to retire than in the past. The younger generation of today may not be able to draw benefits until they are 70. Whether people retire early or late, the amount of benefits will equal about the same. Some people may believe that Social Security will meet their needs in retirement. If a person pays in the maximum amount of money, then he...
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...RULES OF PROFESSIONAL CONDUCT TABLE OF CONTENTS FOREWORD....................................................................................................................... 3 APPLICATION OF THE RULES OF PROFESSIONAL CONDUCT ................................... 8 INTERPRETATION OF THE RULES OF PROFESSIONAL CONDUCT ...........................11 100 - GENERAL .................................................................................................................12 101 Compliance with Bylaws, Regulations and Rules ........................................12 102.1 Conviction of Criminal or Similar Offences ..................................................12 102.2 Reporting Disciplinary Suspension or Cancellation of Membership, or Restriction of Right to Practise ....................................................................12 103 False or Misleading Applications .................................................................12 104 Requirement to Co-operate .........................................................................13 105 Intimidation .................................................................................................13 200 - STANDARDS OF CONDUCT AFFECTING THE PUBLIC INTEREST......................14 201.1-4 Maintenance of Reputation of the Profession ..............................................14 Advocacy Services ......................................................................................14 201.5 202.1 Integrity and Due Care...
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...circumstances. Ascertain adequacy of short- and long-term funding. Assess and identify problems. Formulate the strategy. Implement the plan. Ongoing review. Question 2 Individuals control their wealth either directly through their direct, personal ownership or through intermediate structures or arrangements such as companies, trusts, partnerships, joint ventures or other comparable enterprises. Estate Asset Testamentary Asset, eg solely owned asset Non Testamentary Asset Jointly owned asset Life, ‘TPD’, Trauma or other Insurance Likely Decision-maker Willmaker Likely Governing Document Will Legal owner of property, eg Governing document of company or trustee estate structure Surviving joint owner Policy owner or nominated beneficiary Surviving joint owner’s Will Insurance Policy Nomination Superannuation/Allocated Pension/ Fund member Self-managed Superannuation Fund (binding nomination) Superannuation/Allocated Pension (no binding nomination) Self-managed Superannuation Fund (no binding nomination) Family Trust Fund trustee Surviving member(s), in conjunction with Executor Trustee or Directors Trust Deed or Terms of Annuity Trust Deed of Trust Deed...
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...whose favour the court can decree performance” Discuss the principle enunciated in the above statement and the exceptions thereof with the aid of appropriate case law “There must be somebody in whose favour the court can decree performance” INTRODUCTION In order for a trust to be valid, there needs to be an identifiable beneficiary who can either be an individual or a company . If for instance there is no beneficiary, and consequently the trust is for the achievement of some abstract purpose then the trust is to be considered as void. In the words of Lord Grant MR in the case of Morice v. Bishop of Durham : “There can be no trust, over the exercise of which this court will not assume control... if there can be clear, but for uncertain objects, the property… is indisposed of… Every… [Non-charitable] trust must have a definite object. There must be somebody in whose favour the court can decree performance. The rationale of the principle is to ensure the courts ability to administer the trust. Moreover in the case of Re Endacott it was said, in relation to the beneficiary principle, that ‘no principle has greater sanction and authority’ in the law of trust other that requiring the existence of a beneficiary. It is essential for validity. For instance in the case of Re Astor , a trust for the establishment , maintenance and improvement of good understanding, sympathy, and co-operation between nations was held void because they are not for the...
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