business law 27
To be enforceable, a residential real estate lease must?
Entitle the tenant to exclusive possession of leased property.
Which of the following is a true statement about applying the statue of frauds to leaseholds?
If the lease contract cannot be performed within a specified period, it applies.
Which of the following is a false statement about a lease and its terms?
The lease is real property
Components Inc., a maker of vehicle parts, refuses to sell to DIY Repair Inc., a national vehicle service firm. The maker convinces Engine Parts Company, a competitor, to do the same. This is
a group boycott.
Power Inc. and QualGas Corporation refine and sell natural gas. To limit the supply on the market and thereby raise prices, Power and QualGas agree to buy "excess" supplies from dealers and "dispose" of it. This is
a per se violation of the Sherman Act.
Mountain Crest Inc. makes and distributes its branded products to authorized dealers. To prevent price-cutting by dealers in direct competition, the firm imposes limits on where each dealer can sell the products. This is
a territorial restriction.
Oil Industries Inc. and Petro Corporation are competing refineries situated on the Gulf coast. The two firms cooperate to obtain federal funds to build a levee that could protect their facilities from rising sea levels. With respect to antitrust law, this effort is
a violation because it is "objectively baseless."
The chief executive officers of the major U.S. steel makers would most likely be prosecuted under the antitrust laws if they
agreed to work together to control the price of domestic steel.
Under a contract, Oil Shale Corporation forbids Petro Inc., a wholesale buyer of Oil Shale's products, to purchase products from the seller's competitors. This is prohibited
if its effect is to substantially lessen competition.
Two Chinese firms, Wong Ltd. and Xiang Ltd., engage in a conspiracy to control the distribution of certain goods in global markets. This may violate U.S. antitrust laws
if the conspiracy has a substantial effect on U.S. commerce only
With respect to antitrust violations, the Federal Trade Commission does not enforce
the Sherman Act.
Four grocery stores account for 80 percent of the retail food sales in Metro City. Two of the stores want to merge. In determining whether the merger violates the Clayton Act, the most crucial factor is
the market shares of the firms in their market.
Battery Corporation's production, distribution, and marketing methods are unique. Its capital value and size are greater than its competitors. A suit is filed against the firm, alleging the offense of monopolization. To determine whether Battery has monopoly power requires looking at
the relevant market
