trader


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trader

in U. S. income tax law, a person who deals in property as a business, making several purchases and sales within a year as distinguished from a few sales of assets held for investment. Thus a trader will lose the right to defer capital gains by "exchanging" for another property. The exact details require consultation with a C.P.A. or attorney.

See: broker, dealer, merchant, speculator, supplier, vendor

TRADER. One who makes it his business to buy merchandise or goods and chattels, and to sell the same for the purpose of making a profit. The quantum of dealing is immaterial, when an intention to deal generally exists. 3 Stark. 56; 2 C. & P. 135; 1 T. R. 572.
     2. Questions as to who is a trader most frequently arise under the bankrupt laws, and the most difficult among them are those cases where the party follows a business which is not that of buying and selling principally, but in which he is occasionally engaged in purchases and sales.
     3. To show who is a trader will be best illustrated by a few examples: A farmer who in addition to his usual business, occasionally buys a horse not calculated for his usual occupation, and sells him again to make a profit, and who in the course of two years had so bought and sold five or six horses, two of which had been sold after be bad bought them for the sake of a guinea profit, was held to be a trader. 1 T. R. 537, n.; 1 Price, 20. Another firmer who bought a large quantity of potatoes, not to be used on his farm, but merely to sell again for a profit, was also declared to be a trader. 1 Str. 513. See 7 Taunt. 409; 2 N. R. 78; 11 East, 274. A butcher who kills only such cattle as be has reared himself is not a trader, but if he buy them and kill and sell them with a view to profit, he is a trader. 4 Burr. 21, 47. See 2 Rose, 38; 3 Camp. 233 Cooke, B. L. 48, 73; 2 Wils. 169; 1 Atk. 128; Cowp.745. A brickmaker who follows the business, for the purpose of enjoying the profits of his real estate merely, is not a trader; but when he buys the earth by the load or otherwise, and manufactures it into bricks, and sells them with a view to profit, he is a trader. Cook, B. L. 52, 63; 7 East, 442; 3 C. & P. 500; Mood. & M. 263 2 Rose, 422; 2 Glyn & J. 183; 1 Bro. C. C. 173. For further examples, the reader is referred to 4 M. & R. 486; 9 B. & C. 577; 1 T. R. 34; 1 Rose, 316; 2 Taunt. 178; 2 Marsh. 236; 3 M. & Scott. 761; 10 Bing. 292 Peake, 76; 1 Vent. 270; 3 Brod. & B. 2 6 Moore, 56.

References in classic literature ?
And the trader leaned back in his chair, and folded his arm, with an air of virtuous decision, apparently considering himself a second Wilberforce.
At last the muleteer was tired, and the traders continued their journey, taking with them matter for talk about the poor fellow who had been cudgelled.
The American traders contented themselves with following up the head branches of the Missouri, the Yellowstone, and other rivers and streams on the Atlantic side of the mountains, but forbore to attempt those great snow-crowned sierras.
You also said that he did sell his wagon, for six months afterwards you saw the wagon in the possession of a Portuguese trader, who told you that he had bought it at Inyati from a white man whose name he had forgotten, and that he believed the white man with the native servant had started off for the interior on a shooting trip.
That'll teach you that back talk don't go with me," the trader shouted, purple with rage, peering down at him over the broken railing.
Yet I had the rogues up at the court of pie-powder, and they will harm no more peaceful traders.
Verily, not to a nobility which ye could purchase like traders with traders' gold; for little worth is all that hath its price.
Should your words be spoken, my daughters would shut their ears, and Mahtoree would seem a trader to their eyes.
Only the following considerations can have led the historians to such a conclusion: (1) that history is written by learned men, and so it is natural and agreeable for them to think that the activity of their class supplies the basis of the movement of all humanity, just as a similar belief is natural and agreeable to traders, agriculturists, and soldiers (if they do not express it, that is merely because traders and soldiers do not write history), and (2) that spiritual activity, enlightenment, civilization, culture, ideas, are all indistinct, indefinite conceptions under whose banner it is very easy to use words having a still less definite meaning, and which can therefore be readily introduced into any theory.
But you couldn't get along without masters of some sort, and there arose a new set of masters - not the great, virile, noble men, but the shrewd and spidery traders and money-lenders.
Next he fell for the traders, who developed in him a champagne thirst, and he shipped off the Catholic priests to New Zealand.
They came and went; there had been much talk, but after they went away everything seemed to be as before, only their ships remained in sight from our coast, and very soon their traders came amongst us under a promise of safety.