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failing company doctrine

failing-company doctrine. Antitrust. The rule that allows an otherwise proscribed merger or acquisition between competitors when one is bankrupt or near failure. 15 USCA §§ 12–27. — Also termed failing-firm defense. [Cases: Monopolies 20(1). C.J.S. Monopolies §§ 106–111, 115–116, 125.] “The 1992 guidelines provide a limited defense for failing firms and failing divisions of firms. […]

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center of gravity doctrine

center-of-gravity doctrine. Conflict of laws. The rule that, in choice-of-law questions, the law of the jurisdiction with the most significant relationship to the transaction or event applies. — Also termed significant-relationship theory; grouping-of-contacts theory. [Cases: Action 17. C.J.S. Actions §§ 18–20; Conflict of Laws §§ 2–3, 12, 15, 20, 23, 27–32, 34–40, 42–48, 50–65, 96–97,

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substitution of judgment doctrine

substitution-of-judgment doctrine. Administrative law. The standard for reviewing an agency’s decision, by which a court uses its own independent judgment in interpreting laws and administrative regulations — rather than deferring to the agency — when the agency’s interpretation is not instructive or the regulations do not involve matters requiring the agency’s expertise. [Cases: Administrative Law

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