Commerce


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Commerce

The exchange of goods, products, or any type of Personal Property. Trade and traffic carried on between different peoples or states and its inhabitants, including not only the purchase, sale, and exchange of commodities but also the instrumentalities, agencies, and means by which business is accomplished. The transportation of persons and goods, by air, land, and sea. The exchange of merchandise on a large scale between different places or communities.

Although the terms commerce and trade are often used interchangeably, commerce refers to large-scale business activity, while trade describes commercial traffic within a state or a community.

BILLS PAYABLE, COMMERCE. Engagements which a merchant has entered into in writing, and which he is to pay on their becoming due. Pard. n. 85.

COMMERCE, trade, contracts. The exchange of commodities for commodities; considered in a legal point of view, it consists in the various agreements which have for their object to facilitate the exchange of the products of the earth or industry of man, with an intent to realize a profit. Pard. Dr. Coin. n. 1. In a narrower sense, commerce signifies any reciprocal agreements between two persons, by which one delivers to the other a thing, which the latter accepts, and for which he pays a consideration; if the consideration be money, it is called a sale; if any other thing than money, it is called exchange or barter. Domat, Dr. Pub. liv. 1, tit. 7, s. 1, n. 2. Congress have power by the constitution to regulate commerce with foreign nations and among the several states, and with the Indian tribes. 1 Kent. 431; Story on Const. Sec. 1052, et seq. The sense in which the word commerce is used in the constitution seems not only to include traffic, but intercourse and navigation. Story, Sec. 1057; 9 Wheat. 190, 191, 215, 229; 1 Tuck. Bl. App. 249 to 252. Vide 17 John. R. 488; 4 John. Ch. R. 150; 6 John. Ch. R. 300; 1 Halst. R. 285; Id. 236; 3 Cowen R. 713; 12 Wheat. R. 419; 1 Brock. R. 423; 11 Pet. R. 102; 6 Cowen, R. 169; 3 Dana, R. 274; 6 Pet. R. 515; 13 S. & R. 205.

References in periodicals archive ?
(47.) Department of Commerce, Eugene Kinckle Jones, "Summary of Work," April 1, 1933 to June 30, 1935.
Noting that "economically speaking, the effect of a tax benefit or burden is the same," the court agreed with the plaintiffs and held the investment tax credit discriminated against interstate commerce.
This literature shows two perspectives: In some texts the perception of tacit British support of north African piracy generates a commercial rhetoric that equates savage Christian British naval officers with savage Muslim traders, damning them both; in others the promise of economic reconciliation between father England and newly adult America is seen as a palliative that will show ethical commerce triumphing over the barbarism of the slave trade.
CEO Sandy Kemper notes that Perfect Commerce's ability to do invoice presentment is critical to its effectiveness.
"With this agreement, we have made a strong partnership even stronger," said Sandy Kemper, CEO, Perfect Commerce. "We are glad to extend the value we deliver to our joint customers.
While annual data for e-commerce is currently available only through 2002, the Census Bureau also reports a quarterly e-commerce series based on its monthly retail survey, which accounts for about half of B2C commerce. According to the most recent data, e-commerce retail sales grew 25 percent in the fourth quarter in 2003 from the year-earlier period, while total retail sales increased 6 percent over the same span.
The complexity of documenting electronic commerce increases in proportion to the complexity of the signature method used.
In fact, when President Clinton proposed the amendments to Congress, he emphasized that the modifications had little or no effect on the ability to prosecute the offense.(12) Accordingly, the concerns regarding Congress's intrusion into an area traditionally regulated by states and the potential for using the commerce power as a general police power remain.(13)
Union Minister of Commerce and Industry & Railways, Piyush Goyal, has directed Department for Promotion of Industry and Internal Trade (DPIIT) to immediately form a committee headed by Additional Secretary in DPIIT, with representatives of Department of Commerce, Ministries of MSME, Consumers Affairs and legal experts from Government as members.
The newly appointed Adviser on Commerce Razak Dawood is yet to visit WTO and take part in negotiations despite being in government for the last six months.
Kemper will continue to stay engaged with the organization through continued service on the Commerce Bancshares board of directors and Commerce Bank of Kansas City advisory board, and as an additional resource for customer relationships.