Trade - Definition - Law Dictionary Home Dictionary Definition trade

Definition :

Trade [fr. trutta, Ital.], traffic; intercourse; commerce; exchange of goods for other goods, or for money.

The business of buying and selling or bartering goods or services, Black's Law Dictionary, 7th Edn., p. 1500.

As to contracts in restraint of trade, see RESTRAINT OF TRADE.

A 'trade association' means an association of tradesmen, businessmen or manufacturers for the protection and advancement of their common interest, State of Gujarat v. Mahesh Kumar Dhirajlal Thakkar, AIR 1980 SC 1167: (1980) 2 SCC 322.

It means any trade, business, industry, profession or occupation relating to the production, supply, distribution or control of goods and includes the provision of any services. [Monopolies and restrictive Trade Practices Act, 1969 (54 of 1969), s. 2 (s)]

Means any trade, business, industry, profession or occupation relating to the production, supply, distribution, storage or control of goods and includes the provision of any services. [Competition Act, 2002 (12 of 2003), s. 2(x)]

The word 'trade' has been used synonymously with the word 'business'. Trade or business would mean some real substantial and systematic or organised course of activity or conduct with a set purpose, State of Bihar v. Harihar Prasad Debuka, AIR 1989 SC 1119 (1125): (1989) 2 SCC 192.

Trade, can be an occupation of selling for profit or can be exchange of goods either manufactured by himself or purchased for money, Sher Mohomed Musahib v. State of Maharashtra, 1973 Mah LJ 420.

Trade, includes every kind of trade business, pro-fession or occupation, Mahesh Kumar v. State of Gujarat, 1975 SLWR 74: (1974) 15 Guj LR 293.

Trade, includes persons in a line of business in which persons are employed as workmen. It denotes the operation undertaken rests upon co-operation between employers and employees with a view to production and distribution of material goods, in other words, wealth, but they may arise also in cases where the co-operation is to produce material services, Secretary, Madras Gymkhana Club Employees, Union v. Management of Gymkhana Club, AIR 1968 SC 554: (1968) 1 SCA 379: (1967) 2 SCWR 618: (1967) 2 Lab LJ 720: 1968 Lab IC 547: (1968) 2 Andh WR (SC) 6; State of Punjab v. Bajaj Electricals Ltd., (1968) 2 SCJ 258.

Trade, is defined as the business of selling with a view to profit goods which the trader has either manufactured or himself purchased, Dena Bank, Ahmednagar v. Prakash Birbhan Katariya, AIR 1994 Bom 343.

Trade, is the exchange of goods for goods or goods for money. It includes all the connotations of the word 'business', Khoday Distilleries Ltd. v. State of Karnataka, AIR 1995 SCW 313: (1995) 1 SCC 574; State of Gujarat v. Mahesh Kumar Dhirajlal Thakkar, 1980 SCC Cr 442.