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Legal Definitions - course of trade

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Definition of course of trade

Definition: Course of trade refers to the customary practices and methods of dealing within a specific profession or business. It includes trade usage, which is a well-known and uniform practice within a particular trade or region that justifies an expectation that it will be observed in a given transaction.

Examples:

  • Trade usage: In the construction industry, it is customary to pay a deposit before work begins and the remaining balance upon completion of the project. This trade usage justifies an expectation that these payment terms will be observed in a given construction contract.
  • Local usage: In a particular city, it may be common practice for landlords to include utilities in the rent price. This local usage may be considered by a court when interpreting a lease agreement.
  • General usage: Throughout the United States, it is customary for businesses to be closed on major holidays such as Christmas and Thanksgiving. This general usage is not restricted to a local area and is widely observed.

These examples illustrate how course of trade and trade usage can establish customary practices and expectations within a particular profession or business. They can also be used to interpret contracts and agreements.

The law is a jealous mistress, and requires a long and constant courtship.

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Simple Definition

A course of trade refers to the customary practices and methods of dealing within a specific profession or business. It is a well-known and uniform practice that people are accustomed to doing. Trade usage is a type of course of trade that has such regularity of observance in a region, vocation, or trade that it justifies an expectation that it will be observed in a given transaction. It is a customary practice or set of practices relied on by persons conversant in, or connected with, a trade or business.

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If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.

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