noun[mass noun] Law
1Action that interferes with free competition in a market.
- The original Sherman Anti-Trust Act of 1890 forbade any action that was a ‘conspiracy in restraint of trade or commerce among the several States or with foreign nations.’
- Therefore, to ensure that markets work effectively, regulation is needed to prevent collective and individual monopolies from operating in restraint of trade.
- ‘Antitrust laws apply to any restraint of trade,’ Donovan explains.
1.1 [count noun] A clause in a contract that restricts a person’s right to carry on their trade or profession.
- All interference with individual liberty of action in trading, and all restraints of trade of themselves, if there is nothing more, are contrary to public policy, and therefore void.
- First, a number of individual players have challenged such rules before common law courts as unreasonable restraints of trade.
- The courts have, generally speaking, followed the approach of the High Court in Buckley v Tutty, in striking down labour-market rules leagues have imposed on players, as unreasonable restraints of trade.
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