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TRADE Definition & Legal Meaning

Law dictionary entry - legal definition of embargo

Definition & Citations:

The act or business of exchanging commodities by barter; or the business of buying and selling for money; traffic; barter. Webster; May v. Sloan, 101 U. S. 237, 25 L. Ed. 797; U. S. v. Cassidy (I). C.) 07 Fed. 841; Queen Ins. Co. v. State, SO Tex. 250, 24 S. W. 307, 22 L. It. A. 483. The business which a person has learned and which lie carries on for procuring subsistence, or for profit; occupation, particularly mechanical employment; distinguished from the liberal arts and learned professions, and from agriculture. Webster; Wooiltield v. Colzey, 47 Ga. 124; People v. Warden of City Prison, 144 N. Y. 529, 39 N. E. 0S0, 27 L. B. A. 718; In re Stone Cutters’ Ass’n, 23 Pa. Co. Ct. R. 520. Traffic; commerce, exchange of goods for other goods, or for money. All wholesale trade, all buying in order to sell again by wholesale, may be reduced to three sorts: The home trade, the foreign trade of consumption, and the carrying trade. 2 Smith, Wealth Nat. b. 2, c. 5.

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