In The Trade - Law Dictionary Search Results
Home Dictionary Name: in the trade Page: 3Trade Mark
Trade Mark, a trade mark includes a registered as well as unregistered trade mark, State of Uttar Pradesh v. Ram Nath, (1972) 1 SCC 130: AIR 1972 SC 232. [Trade and Merchandise Marks Act, 1958, s. 2(1)(v)]...
Trade discount
Trade discount, a 'trade discount' is a deduction from the catalogue price of goods allowed by wholesalers to retailers engaged in the trade, Dy. C.S.T. (Law), Board of Revenue (Taxes) v. Advani Coorlikon (P) Ltd., AIR 1980 SC 609 (610): (1980) 1 SCC 360: (1980) 1 SCR 931. [Central Sales Tax Act, 1956, s. 2(h)]Trade discount, is a percentage deduction from the regular list or catalogue price or goods, A.K. Roy v. Voltas Limited, 1973 SCC Tax 261...
trade secret
trade secret : a formula, process, device, or item of information used by a business that has economic value because it is not generally known or easily discovered by observation or examination and for which reasonable efforts to maintain secrecy have been made NOTE: Trade secrets are a form of intellectual property. Many states have enacted laws which create an action for damages or injunctive relief against misappropriation of trade secrets by improper means. Information contained in a patent is not protected as a trade secret. ...
Sale or purchase of goods shall be deemed....inter-State trade or commerce
Sale or purchase of goods shall be deemed....inter-State trade or commerce, According to s. 3 of the Act, a sale or purchase of goods shall be deemed to take place in the course of inter-State trade or commerce. A sale of goods can be held to have taken place in the course of inter-State trade, if it can be shown that the sale has occasioned the movement of goods from one State to another. A sale in the course of inter-State trade has three essentials: (i) there must be sale, (ii) the goods must actually be moved from one State to another and (iii) the sale the movement of the goods must be part of the same transaction. The word 'occasions' is used as a verb and means to cause or to be the immediate cause of, Kelvinator of India Ltd. v. State of Haryana, AIR 1973 SC 2526: (1973) 2 SCC 551: (1974) 1 SCR 463....
Sale in the course of inter-State trade
Sale in the course of inter-State trade, a 'sale in the course of inter-State trade' in Article 286(2) of the Constitution includes a sale by a trader in one State to a consumer or user in another State. The ex-pression is not confined to sales between two traders only, State of Bombay v. United Motors (India) Ltd., AIR 1953 SC 252: (1953) SCR 1069.A sale which occasions movement of goods from one State to another is a sale in the course of inter-State trade, no matter in which State the property in the goods passes; (2) it is not necessary that the sale must precede the inter-State movement in order that the sale may be deemed to have occasioned such movement; and (3) it is also not necessary for a sale to be deemed to have taken place in the course of inter-State trade or commerce, that the covenant regarding inter-State movement must be specified in the contract itself. It would be enough if the movement was in pursuance of and in-cidental to the contract of sale, Union of India v. ...
Restraint of trade
Restraint of trade. Contracts in general restraint of trade--that is, that a party shall not carry on a particular trade at all--are void on the ground of public policy, Mitchel v. Reynolds, (1711) 1 P Wms 181; 1 Sm LC, but contracts in partial restraint of trade--that is, where the restraint does not extend further than is necessary for the reasonable protection of the party for whose protection it has been agreed to--are good, if made, although by deed, for some consideration, and if not injurious to the public interests of this country. See the Nordenfelt case,1894 AC 535, in which it is recognised that the law of this subject has been gradually growing in liberality, Attwood v. Lamont, (1920) 3 KB 571; Dewas v. Fitch, (1921) 2 AC 158; and consult Leake or Chitty on Contracts.An agreement between or combination of businesses intended to eliminate competition, create a mono-poly, artificially raise prices, or otherwise ad-versely affect free market, Black's Law Dictionary, 7th Edn....
Property mark, trade mark
Property mark, trade mark, a property mark, as defined by s. 479 of the Indian Penal Code means a mark used for denoting that a movable property belongs to a particular person. The distinction between a trade mark and a property mark is that whereas the former denotes the manufacture or quality of the goods to which it is attached, the latter denotes the ownership in them. In other words, a trade mark concerns the goods themselves, while a property mark concerns the proprietor. A property mark attached to the movable property of a person remains even if part of such property goes out of his hands and ceases to be his, Sumat Prasead Jain v. Sheojonaw Prasad, AIR 1972 SC 2488 (2490): (1973) 1 SCC 56. [Penal Code, s. 479; Trade and Merchandise Marks Act, 1958, s. 2(1)(i) & (v)]...
Adventure in the nature of trade
Adventure in the nature of trade, The expression in sub-s. (4) of s. 2 of the Indian Income Tax Act, 1922, postulates the existence of certain elements in the adventure which in law would invest it with the character of a trade or business; and that a tribunal while considering a question as to whether a transaction is or is not an adventure in the nature of trade, before arriving at its final conclusion on facts proved, the tribunal has undoubtedly to address itself to the legal requirements associated with the concept of trade or business, G. Venkataswami Naidu and Co. v. Commissioner of Income Tax, AIR 1959 SC 359 (364): (1959) Supp 1 SCR 646....
Home trade ship
Home trade ship, 'home-trade ship' means a ship not exceeding three thousand tons gross which is employed in trading between any port or place in India and any other port or place on the continent of India or between ports or places in India and ports or places in Ceylon, Maladive Islands, Federation of Malaya, Singapore or Burma. [Merchant Shipping Act, 1958 (44 of 1958), s. 3(16)]See SHIP....
Trading with the Enemy Act, 1914
Trading with the Enemy Act, 1914 (English) (4 & 5 Geo. 5, c. 87), provided that any person who 'dur-ing the present war [i.e., the war with Germany] trades or has since 4th August, 1914, traded with the enemy within the meaning of this Act, shall be guilty of a misdemeanour. The Act was partly repealed [S. R. & O. 1921 (No. 1276), and see 15 & 16 Geo. 5, c. 43]. As to what constitutes an alien enemy, see Daimler Co. v. Continental Tyre Co., (1916) 2 AC 307....
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