What is a fair trade law?

A fair trade law was a statute in any of various states of the United States that permitted manufacturers the right to specify the minimum retail price of a commodity, a practice known as "price maintenance". Such laws first appeared in 1931 during the Great Depression in the state of California.

Why were fair trade laws enacted in the 1930s?

Fair trade laws were enacted by states in the 1930s to allow manufacturers to set prices for their products by retailers. The laws were enacted by almost every state to counteract the constant price fluctuations brought on by the Great Depression.

What is fair-trade law?

They write new content and verify and edit content received from contributors. fair-trade law, in the United States, any law allowing manufacturers of branded or trademarked goods (or in some instances distributors of such products) to fix the actual or minimum resale prices of these goods by resellers.