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Article: Sherman Anti-Trust Act
- Article from:
- Gale Encyclopedia of U.S. Economic History
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SHERMAN ANTI-TRUST ACT
The Sherman Anti-Trust Act was passed by Congress in 1890 in an attempt to break up corporate trusts (corporate trusts are combinations of firms or corporations formed to limit competition and monopolize a market). The legislation stated that "every contract, combination in the form of trust or otherwise, or conspiracy in the restraint of trade" was illegal. While the act made clear that anyone found to be in violation of restraining trade would face fines, jail terms, and the payment of damages, the language lacked clear definition of what exactly constituted restraint of trade. The nation's courts were left with the responsibility of interpreting the Sherman ...