Legal Definitions - trade

Definition: Trade refers to the business of buying and selling goods or services for profit. It can involve retail or wholesale sales, or require special mechanical skills. It also refers to the act of exchanging one thing for another, such as money for goods, goods for goods, or favors for goods or money.

• A clothing store is a type of trade business that sells clothing items to customers for a profit.
• A carpenter is an example of a trade occupation that requires special mechanical skills to build and repair structures.
• When you go to a store and buy a shirt with money, you are engaging in a trade transaction.
• If you trade your old video game for a friend's book, you are exchanging goods for goods.
• If you offer to mow your neighbor's lawn in exchange for them fixing your bike, you are trading favors for goods or services.

These examples illustrate how trade can involve various types of businesses and occupations, as well as different types of exchanges between individuals or entities.