wex definitions

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

 

An election that occurs at a time between general elections.  Special elections are frequently used to fill vacancies in public elected-offices or for a legislature to place a referendum before the public. 

An election held to fill all or most of a political body's elected posts.  Often held after regular intervals, such as the first Tuesday after November 1 in even-numbered years in the U.S.

Liability that is derived from the original or primary liability.  In general, secondary liability does not arise unless the party with primary liability is unable or otherwise fails to honor its obligation. 

See Tort, Primary Liability, Products Liability