South Carolina Trust in Restraint of Trade (SC TRUST) is a legal agreement between two or more parties that restricts or limits trade in a particular area or industry within the state of South Carolina. The purpose of these agreements is to protect the interest of the parties by preventing competition between them or allowing only limited competition. The agreement is binding on all parties and can be enforced through the courts if necessary. There are two main types of South Carolina Trust in Restraint of Trade: horizontal and vertical. Horizontal Trusts are agreements between two or more parties that deal in the same market or industry, such as suppliers and retailers. Vertical Trusts are agreements between parties in different industries, such as manufacturers and distributors. Both types of Trusts are subject to the same regulations and laws and must meet certain strict requirements in order to be legally enforceable.
South Carolina TRUST IN RESTRAINT OF TRADE
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§39-5-10, et seq. In order to be actionable, an act must be unfair or deceptive, and must have an impact upon the public interest. Impact on public interest may be established if the act or practice has the potential for repetition.
SECTION 39-5-20. Unfair methods of competition and unfair or deceptive acts or practices unlawful; application of federal act. (a) Unfair methods of competition and unfair or deceptive acts or practices in the conduct of any trade or commerce are hereby declared unlawful.
(a) Any person who suffers any ascertainable loss of money or property, real or personal, as a result of the use or employment by another person of an unfair or deceptive method, act or practice declared unlawful by Section 39-5-20 may bring an action individually, but not in a representative capacity, to recover
As per SC Code Section 39-5-50, an attorney general can file an action where they ask the court to issue the injunction to prevent a business or an individual from engaging in unfair and deceptive trade practices.
(a) Any person who suffers any ascertainable loss of money or property, real or personal, as a result of the use or employment by another person of an unfair or deceptive method, act or practice declared unlawful by Section 39-5-20 may bring an action individually, but not in a representative capacity, to recover
State law (SC §39-5-145) says that it is unlawful to ?rent or sell or offer to rent or sell a commodity at an unconscionable price.? The law remains in effect until the declaration expires or is terminated.
The Sherman Act outlaws "every contract, combination, or conspiracy in restraint of trade," and any "monopolization, attempted monopolization, or conspiracy or combination to monopolize." Long ago, the Supreme Court decided that the Sherman Act does not prohibit every restraint of trade, only those that are