commercial transactions

Definition

1) In trusts and estates law, assets produced by a devised asset after the execution of a will. 

2) In secured transactions law, goods that physically united with other goods in a way that doesn't lose the identity of the original goods. Compare with commingled goods.

Definition

Assent to the terms of an offer.  Acceptance must be judged objectively, but can either be expressly stated or implied by the offeree's conduct.  To form a binding contract, acceptance should be relayed in a manner authorized, requested, or at least reasonably expected by the offeror.  

Below-cost pricing intended to eliminate specific competitors and reduce overall competition.

See Antitrust Law for more information.

Definition

Exclusive dealing arrangements are essentially requirements contracts in which a seller agrees to sell all or a substantial portion of its products or services to a particular buyer, or when a buyer similarly agrees to purchase all or a portion of its requirements of a product or service from a particular seller. 

Definition

An agreement in which the seller conditions the sale of one product (the "tying" product) on the buyer's agreement to purchase a separate product (the "tied" product) from the seller.   Alternatively, it is also considered a tying arrangement when the seller conditions the sale of the tying product on the buyer's agreement not to purchase the tied product from any other seller.  See Eastman Kodak v. Image Technical Services, Inc., 504 U.S. 541 (1992).

An agreement among two or more competitors to change the bids they otherwise would have offered absent the agreement. Under Section 1 of the Sherman Antitrust Act, collusive bidding is per se illegal.

See Antitrust Law for more information.

A cooperation agreement between competitors on the same level of commerce.  A horizontal scheme violates antitrust law if it involves price-fixing or any other recognized restraint on trade.  

See Antitrust Law

A purposeful freeze or maintenance of prices that is contrary to the free market.  Price-fixing is an illegal restraint on trade under Section 1 of the Sherman Antitrust Act.

See Antitrust Law