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price fixing |
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price fixing An agreement among competitors to charge roughly the same price as each other, denying consumers a meaningful choice in the marketplace. The practice is illegal under the Sherman Antitrust Act.In the real estate area,the most famous application of this principle has to do with real estate commissions and the complaint that local REALTOR® association members agreed to all charge the same rate. It is the reason for the disclaimer that appears on most real estate company form listing contracts and purchase contracts,“The commission is negotiated among the parties and is not set by... .“ How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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