FREE BOOKS

Author's List




PREV.   NEXT  
|<   157   158   159   160   161   162   163   164   165   166   167   168   169   170   171   172   173   174   175   176   177   178   179   180   181  
182   183   184   185   186   187   188   189   190   191   192   193   194   195   196   197   198   199   200   201   202   203   204   205   206   >>   >|  
to monopolize, any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty under this act." And in the third section: "Every person who shall make any such contract, or engage in any such combination or conspiracy, shall be deemed guilty of a misdemeanor." The rest of the legislation provides penalties, manner, and machinery for the enforcement of these laws by prosecuting attorneys, etc., with a usual allowance to informants; and it may be here noted that one great trouble has resulted from this machinery, for it provided injunction remedies and dissolution, which may well be too severe a penalty, and, furthermore, dispenses with a jury and throws unnecessarily upon the court--even now, as in the Standard Oil case, a distant high court of appeal--the burden of determining a complicated and voluminous mass of fact. Our ancestors never would have suffered such matters to be adjudged by the Chancellor! South Dakota has an extraordinary statute making the agents for agricultural implements, etc., guilty of a criminal offence when their principals refuse to sell at wholesale prices to dealers in the State (S.D., 1890, 154, 2). But beside these remedies, there is a frequent statute dating from the earliest Kansas act of 1889, that debts for goods sold by a so-called trust, contracts made in violation of the law, will not be enforced in favor of the offending person or corporation. That is to say, the person buying the goods of a trust may simply refuse to pay for them; and the constitutionality of this legislation has recently been sustained by a divided opinion in the Supreme Court of the United States.[1] The possession or ownership of trust certificates is in some States made criminal. Corporations offending against the statute are to have their charters taken away, or, if chartered in other States, to be expelled from the State. All contracts or agreements in violation of any of these statutes are, of course, made void. [Footnote 1: Continental Wall Paper Co. _v_. Voight, 212 U.S. 227.] There are special statutes in Kansas, Nebraska, and North Dakota against trusts in certain lines of business, as, for instance, the buying or selling of live-stock or grain of any kind. In the twenty years that have elapsed since this early legislation there has been considerable clarifying in the legislative mind; modern statutes, and especially constitutional provisions, stating t
PREV.   NEXT  
|<   157   158   159   160   161   162   163   164   165   166   167   168   169   170   171   172   173   174   175   176   177   178   179   180   181  
182   183   184   185   186   187   188   189   190   191   192   193   194   195   196   197   198   199   200   201   202   203   204   205   206   >>   >|  



Top keywords:

States

 

statutes

 

person

 

statute

 

legislation

 

guilty

 
machinery
 

Dakota

 

buying

 

remedies


offending
 

refuse

 

deemed

 

criminal

 

Kansas

 

contracts

 

violation

 

ownership

 
possession
 

sustained


United

 
opinion
 

certificates

 

Supreme

 

Corporations

 
divided
 

enforced

 
called
 

earliest

 

constitutionality


simply

 

corporation

 

recently

 

twenty

 

business

 

instance

 

selling

 
elapsed
 

constitutional

 

provisions


stating
 
modern
 

considerable

 
clarifying
 
legislative
 
trusts
 

agreements

 

Footnote

 

expelled

 

chartered