The Law Dictionary

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MARKET Definition & Legal Meaning

Definition & Citations:

A public time and appointed place of buying and selling; also purchase and sale. Caldwell v. Alton, 33 111. 419. 75 Am. Dec. 282; Taggart v. Detroit, 71 Mich. 92, 38 N. W. 714; Strickland v. Pennsylvania It. Co., 154 Pa. 348, 20 Atl. 431, 21 L. It. A. 224. It differs from the forum, or market of antiquity, which was a public market- place on one side only, or duriug one part of the day only, the other sides being occupied by temples, theaters, courts of justice, and other public buildings. Wharton. The liberty, privilege, or franchise by which a town holds a market, which can only be by royal grant or immemorial usage. By the term “market” is also understood the demand there is for any particular arti- cle; as, “the cotton market in Europe is dull.”


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