What is SPECULATION?

In commerce. The act or practice of buying lands, goods, etc.. in expectation of a rise of price and of selling them at an advance, as distinguished from a regular trade, in which the profit expected is the difference between the retail and wholesale prices, or the difference of price in the place where the goods are purchased, and the place where they are to be carried for market. Webster. See Maxwell v. Burns (Tenn. Ch. App.) 59 S. W. 1067; U. S. v. Detroit Timber & Lumber Co. (C. C.) 124 Fed. 393.

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