USA HISTORY

Detailed explanation-1: -The Sherman Anti-Trust Act authorized the federal government to institute proceedings against trusts in order to dissolve them. Any combination “in the form of trust or otherwise that was in restraint of trade or commerce among the several states, or with foreign nations” was declared illegal.

Detailed explanation-2: -Key Takeaways. The Sherman Antitrust Act is a law the U.S. Congress passed to prohibit trusts, monopolies, and cartels.

Detailed explanation-3: -The Sherman Antitrust Act of 1890 (26 Stat. 209, 15 U.S.C. §§ 1–7) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce. It was passed by Congress and is named for Senator John Sherman, its principal author.

Detailed explanation-4: -It prohibits all agreements and conspiracies in restraint of trade and commerce. These prohibited restraints include price fixing, market allocation, boycotts, bid rigging and tying agreements. The Sherman Act also prohibits monopolizing or attempts to monopolize any line of commerce.

Detailed explanation-5: -The Sherman Antitrust Act, in contrast, was based on the constitutional power of Congress to regulate interstate commerce. It was passed by an overwhelming vote of 51 to 1 in the Senate and a unanimous vote of 242 to 0 in the House, and it was signed into law by President Benjamin Harrison.