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.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
With regard to the market trader being forbidden to call out, I thought there was such a thing that if it could be proven that something has taken place for a number of years then it becomes the status quo and can only be changed by a court of law?
CBC must face the facts that their approach over the past few years has failed dismally, as a consequence the losers are the general public, the market traders and the town centre business, and of course CBC have lost revenue, The answer from the present Southfields officers how to replace the lost revenue is to increase stall rents.
But the decision has proved divisive among market traders.
On Friday, black market traders told Sudan Tribune that the new incentive policy did not affect the market despite increasing the official exchange rate to 15.95 SDG which was similar to the back market prices.
Market Traders Institute is located at 400 Colonial Center Parkway, Suite 350, Lake Mary, FL 32746 and has provided a prestigious education since 1994.
The market traders who are out in all weathers on a Wednesday and Saturday were upset by the article as we have been trying for years to get some form of free parking for the regular customers, as well as any visitors to this more than 700-year-old market, only to be told by the council that it is a no-go.
Bob Sidhu, chairman of Nuneaton market traders, thinks that the success of the market is partly reliant on the success of the town centre itself.
Meanwhile, market traders are being offered alternative sites in the Old Market Square and the Bridge, as well as a rent reduction during the works.
PEOPLE thinking of becoming market traders can try a stall for free under a new Kirklees scheme.
Geraud Markets has teamed up with the National Market Traders Federation (NMTF) to encourage aspiring entrepreneurs in Liverpool to start up a business.
GREAT PLACE TO START Market trader Gordon Massingham with Michael Smith from Be Enterprising
Stockport Council in Greater Manchester has also refused to fund market traders who plan to hand pounds 1,000 worth of red roses to shoppers on Saturday, despite paying half the cost last year.