What is the role of the real estate commissioner?

What is the role of the real estate commissioner?

The Commissioner’s Role To facilitate the administration and enforcement of the Real Estate Law and the Subdivided Lands Law, the Commissioner is empowered by law to issue regulations. It is the Commissioner’s responsibility to enforce these laws in a manner which achieves maximum protection for real estate consumers.

Which of the following is not a job of the real estate commissioner?

Which of the following is not a job of the Real Estate Commissioner? Settling commission disputes. An investigation of a licensee’s actions is typically initiated by: Receipt of a verified written complaint.

What is the real estate regulatory body in CA?

The California Department of Real Estate (DRE) is the state agency responsible for administering real estate license examinations, issuing real estate licenses and certain mortgage loan originator endorsements to such licensees; regulating and disciplining real estate licensees, and qualifying certain residential …

Who enforces real estate law?

As such, the real estate commission has the authority to implement and enforce real estate licensing laws. In keeping with this authority, the real estate commission serves various important functions, including: Authority to Issue a license, and monitor real estate activities.

What is the main purpose of the real estate law?

Real estate law is the area of law that governs buying, using and selling land. It’s the law that governs how people acquire property and what they can do with the property that they own.

What does the Federal Trade Commission Act regulate in real estate?

The FTC protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace. We conduct investigations, sue companies and people that violate the law, develop rules to ensure a vibrant marketplace, and educate consumers and businesses about their rights and responsibilities.

Does filing a complaint with the FTC do anything?

The FTC cannot resolve individual complaints, but it can provide information about what steps to take. The FTC says that complaints can help it and its law enforcement partners detect patterns of fraud and abuse, which may lead to investigations and stopping unfair business practices.

Who oversees the FTC?

The Commission is headed by five Commissioners, nominated by the President and confirmed by the Senate, each serving a seven-year term. No more than three Commissioners can be of the same political party. The President chooses one Commissioner to act as Chairman.

Who does the FTC Act apply to?

Section 5(a) of the Federal Trade Commission Act (FTC Act) (15 USC §45) prohibits “unfair or deceptive acts or practices in or affecting commerce.” This prohibition applies to all persons engaged in commerce, including banks.

What is an example of an unfair act or practice?

An example of an unfair practice could include a lender’s refusal or unreasonable delay in releasing a lien after the consumer has made a final payment on a mortgage, preventing the consumer from obtaining credit, obtaining credit on the most favorable terms or clearing the credit record of the lien.

What is an FTC violation?

Administrative Enforcement of Consumer Protection and Competition Laws. Under Section 5(b) of the FTC Act, the Commission may challenge “unfair or deceptive act[s] or practice[s],” “unfair methods of competition,” or violations of other laws enforced through the FTC Act, by instituting an administrative adjudication. …

What happens if a company violates the FTC Act?

Criminal prosecutions are typically limited to intentional and clear violations such as when competitors fix prices or rig bids. The Sherman Act imposes criminal penalties of up to $100 million for a corporation and $1 million for an individual, along with up to 10 years in prison.

What is the FTC Funeral Rule?

Under the FTC’s Funeral Rule, consumers have the right to get a general price list from a funeral provider when they ask about funeral arrangements. The Funeral Rule applies anytime a consumer seeks information from a funeral provider, whether the consumer is asking about pre-need or at-need arrangements.

What was considered an illegal activity under the Sherman Antitrust Act?

The Sherman Act authorized the Federal Government to institute proceedings against trusts in order to dissolve them. Any combination “in the form of trust or otherwise that was in restraint of trade or commerce among the several states, or with foreign nations” was declared illegal.

Is the Sherman Antitrust Act still in effect?

Q: Is the Sherman Antitrust Act still in force? A: Although it may not be invoked as much as you think appropriate, yes, the Sherman and Clayton antitrust acts remain in force today.

What were the effects of the Sherman Antitrust Act?

The Sherman Antitrust Act—proposed in 1890 by Senator John Sherman from Ohio—was the first measure passed by the U.S. Congress to prohibit trusts, monopolies, and cartels. The Sherman Act also outlawed contracts, conspiracies, and other business practices that restrained trade and created monopolies within industries.

What is the Sherman Antitrust Act in simple terms?

Definition. The Sherman Antitrust Act of 1890 is a federal statute which prohibits activities that restrict interstate commerce and competition in the marketplace. The Sherman Act was amended by the Clayton Act in 1914. The Sherman Act is codified in 15 U.S.C. §§ 1-38.

What are the three major antitrust laws?

The three major antitrust laws in the U.S. are:

• the Sherman Act;
• the Clayton Act; and.
• the Federal Trade Commission Act (FTCA).

What is a violation of antitrust laws?

The most common antitrust violations fall into two categories: (i) Agreements to restrain competition, and (ii) efforts to acquire a monopoly. In the case of a merger, a combination that would likely substantially reduce competition in a market would also violate antitrust laws.

What is an example of an antitrust violation?

An example of behavior that antitrust laws prohibit is lowering the price in a certain geographic area in order to push out the competition. Another example of an antitrust violation is collusion. For example, three companies manufacture and sell widgets. They charge $1.00, $1.05, and $1.10 for their widgets.

What caused the antitrust laws?

The goal of these laws was to protect consumers by promoting competition in the marketplace. The U.S. Congress passed several laws to help promote competition by outlawing unfair methods of competition: Passed in 1890, it makes it illegal for competitors to make agreements with each other that would limit competition.

What was the major purpose of the Sherman Antitrust Act?

The Sherman Antitrust Act was enacted in 1890 to curtail combinations of power that interfere with trade and reduce economic competition. It outlaws both formal cartels and attempts to monopolize any part of commerce in the United States.

Which of these is a violation of Sherman antitrust laws?

Violations of the Sherman Antitrust Act include practices such as fixing prices, rigging contract bids, and allocating consumers between businesses that should be competing for them. Such violations constitute felonies. As such, they may be punished with heavy fines or prison time.

Why was enforcing the Sherman Antitrust Act difficult for the government?

The Sherman Antitrust Act was difficult to enforce because it was vaguely worded and key concepts of monopolistic business practices were not defined….

Is the Sherman Antitrust Act good or bad?

For more than a decade after its passage, the Sherman Antitrust Act was invoked only rarely against industrial monopolies, and then not successfully. Ironically, its only effective use for a number of years was against labor unions, which were held by the courts to be illegal combinations.

How did the case United States VEC Knight weaken the Sherman Antitrust Act quizlet?

How did the case United States v. E.C. Knight weaken the Sherman Antitrust Act? The Supreme Court ruled that the American Sugar Company was a legal monopoly since it existed only in one state.

What companies have been broken up by antitrust laws?

It broke the monopoly into three dozen separate companies that competed with one another, including Standard Oil of New Jersey (later known as Exxon and now ExxonMobil), Standard Oil of Indiana (Amoco), Standard Oil Company of New York (Mobil, again, later merged with Exxon to form ExxonMobil), of California (Chevron).

What are three famous court cases under the Sherman Antitrust Act?

The federal government began filing cases under the Sherman Antitrust Act in 1890….Notable cases filed under the act include:

• United States v.
• Chesapeake & Ohio Fuel Co.
• Northern Securities Co.
• Hale v.
• Standard Oil Co.
• United States v.
• United States v.
• Federal Baseball Club v.

What two monopolies were broken up in 1911?

Standard Oil in 1911 was broken up into 34 companies. These companies would recombine; today, these companies go by the names of ExxonMobil, Chevron, Amoco, and BP.

How does the government break up monopolies?

Antitrust. By virtue of the Sherman Antitrust Act of 1890, the US government can take legal action to break up a monopoly. In 1902, President Theodore Roosevelt used the Sherman Antitrust Act as a basis for trying to break up the monopolization of railway service in the United States.