What is price fixing in real estate?
Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors that raises, lowers, or stabilizes prices or competitive terms. Generally, the antitrust laws require that each company establish prices and other terms on its own, without agreeing with a competitor.
Is group boycotting illegal?
In the United States, such conduct can be held to violate the Sherman Antitrust Act. Depending upon the nature of the boycott, the courts may apply the rule of reason, a quick look analysis, or hold that the boycott is illegal per se.
What is a tie in in real estate?
A tying arrangement is an offer or agreement to sell or lease a. certain product only on the condition that the buyer agree to take a. different product as well.
Is vertical price-fixing illegal?
Direct agreements to maintain resale prices are per se illegal in the United States and subject to “hard-core restriction” in Europe. …
Is group boycotting an antitrust violation?
A group boycott can create per se antitrust liability. But the per se rule is applied to group boycotts like it is applied to tying claims, which means only sometimes. By contrast, horizontal price-fixing, market allocation, and bid-rigging claims are almost always per se antitrust violations.
What is tie in arrangement?
Definition. An agreement in which the seller conditions the sale of one product (the “tying” product) on the buyer’s agreement to purchase a separate product (the “tied” product) from the seller.
What are the penalties for violating antitrust laws?
Criminal prosecutions are typically limited to intentional and clear violations such as when competitors fix prices or rig bids. The Sherman Act imposes criminal penalties of up to $100 million for a corporation and $1 million for an individual, along with up to 10 years in prison.
What are the antitrust laws in real estate?
Sherman antitrust laws prohibit price-fixing, group boycotting, the allocation of customers or markets, and tie-in agreements. Price fixing is prohibited. This means that competing brokers, real estate governing bodies, or multiple listing organizations cannot agree to set sale conditions, fees, or management rates.
What is self dealing in real estate?
Self-dealing is an illegal act that happens when a fiduciary acts in their own best interest in a transaction, rather than in the best interest of their clients.
What is a fee simple Defeasible in real estate?
Fee simple defeasible is a legal term and type of property ownership, where the ownership is dependent on specific conditions. If the conditions of ownership are violated, the property may be returned to the grantor or to a specified third party.