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Simple English definitions for legal terms

tacit collusion

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A quick definition of tacit collusion:

Term: Tacit Collusion

Definition: Tacit collusion is when two or more businesses in a concentrated market intentionally engage in monopolistic conduct. This means they work together to control prices and limit competition. It is also known as oligopolistic price coordination or conscious parallelism. It is illegal under antitrust laws because it harms consumers by reducing choices and increasing prices.

A more thorough explanation:

Definition: Tacit collusion, also known as conscious parallelism, is when two or more businesses in a concentrated market intentionally engage in monopolistic conduct. This can include oligopolistic price coordination.

Examples: An example of tacit collusion could be two gas stations in a small town consistently pricing their gasoline at the same rate, even though they are not communicating with each other. Another example could be two airlines offering the same prices for flights on the same route, even though they are not working together.

Explanation: In both examples, the businesses are engaging in similar pricing strategies without directly communicating with each other. This can create an environment where competition is limited, and prices remain high. This behavior can be illegal under antitrust laws, as it can harm consumers and limit their choices.

tacit admission | tacit contract

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starfishies
10:26
I never expected schools to care so it's a pleasant surprise that they do haha
starfishies
10:26
when i was undergrad I did ED and it came out right around xmas
10:26
All I know is tons of schools had "waves" first week of december last year, like dec 8ish lol I had hoped the human side with thanksgiving's date this year would make them do a wave this week before, like imagine the emotional tie for someone that could get hys getting their duke A this week and celebrating with family, maybe they come to duke now when before it was a no. But the good money bet is that dec 8-17 is when the waves come
babycat
10:27
@Dkk: Awww dk that’s so sweet thank you
10:27
Hey anyone else have issues configuring automatic status checkers? when I add my username and password nothing seems to happen...
starfishies
10:28
they dont work from what I hear and most ppl don't recommend sharing that info with any website anyways
starfishies
10:28
but ive not heard of any disasters after people input their login anyways so you should be okay
10:29
fair enough thanks!
ClassyPleasantHeron
10:29
I'd only check a status checker to make sure my application is complete. Anything else is just asking for an anxiety attack. Schools will contact us when they have a decision ready.
snow
10:30
thats a good mindset to have
10:30
yeah I just submitted about 10 applications and submitting several more the next few days so I thought it would be easier to track them to make sure they all went complete
babycat
10:34
what I do is make a Google doc and put the links to all the status checkers in it
ClassyPleasantHeron
10:35
If you still have LawHub, I believe that checker still works.
babycat
10:35
lawhub doesn’t have every school on it though
snow
10:35
@babycat: have you submitted all your apps yet?
babycat
10:36
i got maybe three more to do. 10 done so far
snow
10:36
you sending cooley?
babycat
10:38
I’m applying Cooley binding ED
babycat
10:38
😋
snow
10:39
in all honesty, youd probs get rejected from cooley
triplethread
10:39
omg whoever recommended law hub thank you
snow
10:40
yall ever have someone try to tell you a "feel good" story but it makes you feel worse
triplethread
10:40
it doesnt have all of my schools but it does half over half which kills a lot of time for me
triplethread
10:40
have over half
triplethread
10:43
@llama: that looks complicated no thanks
10:46
@triplethread: no worries
starfishies
10:54
thats a beautiful spreadsheet what
starfishies
10:54
i wish i saw that before i made my notion board
10:55
Just lay there and llama will do all the work
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