FAIR-TRADE ACT

Pronunciation (US):

(GB):

 I. (noun) 

Sense 1

Meaning:

Formerly a state law that protected manufacturers from price-cutting by allowing them to set minimum retail prices for their merchandise; eliminated by the United States Congress in 1975

Classified under:

Nouns denoting communicative processes and contents

Hypernyms ("fair-trade act" is a kind of...):

legislative act; statute (an act passed by a legislative body)

Credits