The restraint of trade clause restricts one party from doing business or trade. The restraint of trade is valid and enforceable in law unless it imposes unreasonable trade restrictions on a person’s liberty to trade or commerce.
Section 1 of the Sherman Antitrust Act 1890 prohibits the agreement that restricts to do business or practices without any reason. In the US, the courts had developed two principles to determine that such an agreement put unreasonable restrictions on business or trade. These principles are as follow:
Narrow restraint Under the narrow restraint of trade, consider “Per Se” restraint. Per se restraints are naturally arrangements between horizontal competitors, and maximum generally takes the following forms: 1. Fixing the price 2. Market allocation 3. Bid-rigging 4. Group boycotts
Other restraint The rule of reason examines the other restraint of trade. In which the court asks the effect of the agreement.
Section 5 of the Federal Trade Commission Act, 1914 also prohibits unfair methods of competition.
Exemptions of Restraint of Trade
Section 1 of the Sherman Antitrust Act 1890 provides that an unreasonable trade barrier imposes on a person. That means if any valid or lawful reason to restrict the freedom of trade or practice of individual is valid. There are so many reasons to restrict the persons’ freedom of trade, and these reasons are as follow:
Other than the above agreement, the US court created another category of exemptions:
Petitioning the government
The Department of Justice and Federal Trade Commission also not to investigate certain combination which was not illegal and the competitors tangled organized to account for less than 20\%20% of the relevant market.
In some cases, parties enter into an anti-trade agreement and five years lapsed to enter into such type of agreement. These agreements were not taken into consideration for proceedings.
Case Laws of Restraint of Trade
The restraint of trade has a very old concept, and its history had begun in 1711. Mitchel v. Reynolds is a famous case that highlighted the validity of restraint of trade, and this case is also known as the rule of reason. The court of the Queen’s Bench decides the case and states that the restraint of trade was essential and additional to a legal deal. There are many more decided cases under the restraint of trade practices, which are as follow:
Broadcast Music Inc. v. Columbia Broadcasting System Inc.
Addyston Pipe and Steel Co. v. the United States,
The United States v. Trans-Missouri Freight Association
Standard Oil Co. of New Jersey v. the United States,
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