in trade

in trade
In commerce; in business. As used in the Federal Income Tax Act that losses actually sustained during the year, incurred "in trade," shall be allowed as a deduction, the term means the trade or trades in which the person making the return is engaged; that is, in which he has invested money otherwise than for the purpose of being employed in isolated transactions, and to which he devotes at least a part of his time and attention. Mente v Eisner (CA2 NY) 266 F 161, 11 ALR 496. See payable in trade.

Ballentine's law dictionary. . 1998.

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