Find the word definition

Wiktionary
rule of reason

n. A doctrine in antitrust law which applies to contracts which "unreasonably" inhibit trade.

Wikipedia
Rule of reason

The rule of reason is a legal doctrine used to interpret the Sherman Antitrust Act, one of the cornerstones of United States antitrust law. While some actions like price-fixing are considered illegal per se'', other actions, such as possession of a monopoly, must be analyzed under the rule of reason and are only considered illegal when their effect is to unreasonably '' restrain trade. William Howard Taft, then Chief Judge of the Sixth Circuit Court of Appeals, first developed the doctrine in a ruling on '' Addyston Pipe and Steel Co. v. United States, ''which was affirmed in 1899 by the Supreme Court. The doctrine also played a major role in the 1911 Supreme Court case Standard Oil Company of New Jersey v. United States.

Usage examples of "rule of reason".

The baron foolish enough to challenge his grandfather to that degree would have gone to the block, so he said to himself, but those raw, rough times of beginning a kingdom were done: his own reign was a rule of reason—.

Here, too, reason presupposes a systematical unity of diverse powers, because particular laws of nature are subject to more general laws, and parsimony in principles is not only considered as an economical rule of reason, but as an essential law of nature.

After such an enquiry proud claims would no doubt have to be surrendered on both sides, but a permanent and tranquil rule of reason over the understanding and the senses might then be inaugurated.