The Sanctity of Contracts in English Law - College of Social ...

Monopolies and Restrictive Practices 63of agreements. The first is the underlying assumptionby the legislature when establishing the machinerythat all restrictive trade practices were not necessarilyeconomically undesirable 29 or that the agreementscombining them were necessarily void on the groundof illegality or immorality. The second is the natureof the machinery, the Register and the court consistingof High Court judges and men of knowledge orexperience in industry, commerce or public affairs.And the third is the power given by the legislature tothis mixed court to declare agreements freely enteredinto void in whole or in part on the ground that theyare contrary to the public interest.The newly reported decision 30 of the RestrictivePractices Court in Re Yarn Spinners' Agreement isof very great general interest. It shows how thecourt of seven persons, three High Court judges andfour laymen of varied experience, sought to dischargethe complex and difficult problems prescribed for itby the Act. One judgment was delivered by thePresident of the Court, Devlin J. The registeredagreement under consideration provided for minimumprices to be charged for various kinds of cotton yarnmanufactured and supplied by members of the association.Under the provisions of section 21 of the Actthe agreement was prima facie contrary to the publicinterest, and it was for the association to satisfy thecourt that it was justifiable on some of the statutorygrounds. This the association failed to do. Thecourt decided that although the removal of the29Contrast in this respect the U.S.A. Sherman Act, 1890.30The Times, January 27, 1959.