MANAGMNT 260 Chapter 4-5: Chapter 4 and 5 notes - OneClass
27 Aug 2016
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State regulation of business: state power! Commerce: the activity of buying and selling ! Intrastate commerce: stays within the state, trick: intramural sports are within the university , state only has a right to regulate business in intrastate commerce ! Interstate commerce: commerce among the states , limited because of the commerce clause ! Because it gives the fed govt the power to regulate commerce among several states : also because supremacy clause (federal laws are superior), federal preemption! Preemption: the exclusive right to purchase goods/shares before the opportunity is offered to public ! Exclusive right to regulate: : foreign commerce, express preemption! If congress enacts valid legislation dealing with foreign or interstate commerce and state law con icts with that legislations. (the state law is expressly preempted): implied preemption ! When congress demonstrates an intent to exclusively regulate an entire regulatory area : dormant commerce clause!
