Section 7. ''Person'' or ''persons'' defined
The word ''person'', or ''persons'', wherever used in sections 1 to 7 of this
title shall be deemed to include corporations and associations existing under
or authorized by the laws of either the United States, the laws of any of the
Territories, the laws of any State, or the laws of any foreign country.
As is explained in later discussion, a secondary source is a good tool for
understanding cases and statutes.
18
One of the simplest and most effective
means for a secondary source to explain a legal rule is to divide the rule into its
elements and consequences.
19
The table below indicates how section 1 could
be divided into its elements and consequences when read with the definitions
in s7:
Element 1 Person
There is a person. Person includes corporations and associations existing
under or authorized by the laws of any of the following –
(1) the United
States, (2) any of the Territories, (3) any State, or (4) any foreign country.
20
Element 2 Contract, Combination or Conspiracy
The person does one of the following actions. (i) The make a contract. (ii)
The engage in a combination. (iii) The engage in a conspiracy.
Element 3 Illegality
The contract, combination or conspiracy is illegal. A contract, combination
(whether in the form of trust or otherwise), or conspiracy is illegal when it
satisfies two requirements:
(i) It is in restraint of trade or commerce.
(ii) This trade or commerce is either (a) among the several States, or (b)
with foreign nations.
Consequences
(1) The person is guilty of a felony.
(2) The person shall be punished in either or both of two ways at the
discretion of the court:
(i) Fine. (a) If they are a corporation they shall be punished by a fine
not exceeding $10,000,000. (b) If they are any other person they shall be
punished by a fine not exceeding $350,000.
(ii) Imprisonment. They shall be punished by imprisonment not
exceeding three years.
18
Chapter 2 Law
19
Chapter 3 Organising Law
20
Sherman Antitrust Act (1890) s7
 |
 |
 |