Interstate Commerce Act: A Comprehensive Guide to Its Legal Definition

Definition & Meaning

The Interstate Commerce Act is a significant piece of legislation passed by the U.S. Congress in 1887. It established the Interstate Commerce Commission (ICC), which was created to regulate the railroad industry and address concerns regarding monopolistic practices. The Act grants Congress the authority to oversee private corporations involved in interstate commerce, which includes the buying, selling, or exchanging of goods and services across state lines. This regulation ensures fair competition and prevents state actions that could hinder interstate trade.

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Real-world examples

Here are a couple of examples of abatement:

One example of the Interstate Commerce Act in action is when a railroad company is found to be charging excessively high rates for transporting goods between states. The ICC can investigate and impose regulations to ensure fair pricing. Another example (hypothetical example) could involve a state attempting to impose its own regulations on a trucking company operating across state lines, which may be challenged under the Act.

Comparison with related terms

Term Definition Key Differences
Interstate Commerce Act Federal law regulating commerce across state lines. Focuses specifically on transportation and trade between states.
Federal Trade Commission Act Law aimed at preventing unfair business practices. Broader scope, covering various unfair practices beyond transportation.

What to do if this term applies to you

If you believe that a transportation company is engaging in unfair practices under the Interstate Commerce Act, consider gathering evidence and consulting with a legal professional. You can also explore US Legal Forms for templates that may assist you in filing a complaint or taking other legal actions.

Quick facts

  • Year enacted: 1887
  • Regulatory body: Interstate Commerce Commission (historical)
  • Scope: Interstate transportation and commerce
  • Key focus: Prevent monopolistic practices

Key takeaways

Frequently asked questions

It regulates all forms of transportation and commerce that occur between states.