Abstract
Ensuring the rights and the interests of the customers is very much important and this has step by step turned out to be one of the significant basics of any market flow in the world. International and national authorities which are responsible in implementing law to regulate the market practices and to protect the interests of the customers have come up with many laws and regulations to establish a reasonable market in international or national levels. The fundamental goal of building up the European Union was to create a single internal market in the Europe region. Maintaining the ‘reasonableness’ of the EU market is utterly important. EU has implemented competition law which is applicable for the undertakings who take part in business activities in the EU market. Article 101 and 102 of the Treaty on the functioning of European Union (TFEU) discusses competition law mainly and furthermore, there are some more laws, regulations and directives which regulates the ‘fair competition’ of the single internal market. Competition law of European Union in relation to agreements with the object of restricting competition and the effectiveness of it along with the judicial precedents will be the subject of this essay.
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