From our private database of 33,800+ case briefs...
Chicago Board of Trade v. United States
United States Supreme Court
246 U.S. 231, 38 S. Ct. 242, 62 L.Ed. 689 (1918)
The Chicago Board of Trade (the board) (defendant) maintained and operated a grain exchange in the Chicago market. The board established a set of rules to govern transactions at the grain exchange, with different rules for each of the various types of grain sales. One sale type was for to-arrive grain, or grain that was scheduled to arrive at the exchange but was not yet available. In 1906, the board enacted a rule that prohibited participants in the grain exchange from buying or selling to-arrive grain at a price other than the price listed at the time the exchange closed for the day until the exchange reopened the next business day. The effect was to prevent after-market pricing on grain that was en route and ready to ship upon arrival but that had not yet reached Chicago. The Department of Justice (DOJ) (plaintiff) believed that the rule violated § 1 of the Sherman Act and brought a suit in district court, seeking an injunction to prevent the board’s rule from being enforced. The board argued that the rule was not anticompetitive and had, in fact, been implemented to break up a monopoly maintained on to-arrive grain by a small number of grain traders who had taken over the after-hours market. The district court granted the injunction, holding that the rule was a restraint of trade under antitrust law. The board appealed the decision.
Rule of Law
Holding and Reasoning (Brandeis, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 606,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 606,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 33,800 briefs, keyed to 984 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.