Trade definition clarifies primary exchange and secondary profit oriented business, requiring fact specific tests to determine presence of trade. Trade comprises the exchange of goods for goods or money in its primary sense and, in its secondary sense, repeated commercial activity carried on with a ... Summary
Trade definition clarifies primary exchange and secondary profit oriented business, requiring fact specific tests to determine presence of trade.
Trade comprises the exchange of goods for goods or money in its primary sense and, in its secondary sense, repeated commercial activity carried on with a profit motive; determining whether trade is carried on at a particular place is a mixed question of law and fact decided by considering the nature of the activity, the steps taken to carry it on, repetition, profit motive and other relevant circumstances, with no single test being decisive.
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