Market And Fair

Market and fair, Market may strictly be defined as 'the meaning or congregating together of people for the purchase and sale of provisions or livestock, publicly exposed, at a fixed time and place'. A 'fair' has been judicially defined as meaning 'a periodical concourse of buyers and sellers in a place generally for sale and purchase......at times or on occasion ordained by custom. The distinction between markets and fair appears to lie in the periodicity viz. while a market may be a regular or permanent place of business, a fair is an intermittent one, ITC Ltd. v. Agricultural Produce Market, (2002) 9 SCC 239: AIR 2002 SC 852 (930). [Bihar Agricultural Produce Markets Act, 1960 (16 of 1960), ss. 15 & 27]