Legal Definitions - quae transeunt per commercium

The Latin phrase quae transeunt per commercium refers to things that are bought and sold, or items that regularly pass through commercial transactions within an economy. It describes any goods, property, or commodities that are subject to trade and exchange in a marketplace.

Here are some examples to illustrate this concept:

• Example 1: A local bakery produces fresh bread, pastries, and cakes daily. These items are then offered for sale to customers who purchase them for consumption. The bread, pastries, and cakes are all examples of quae transeunt per commercium because they are manufactured with the intent of being sold and are regularly exchanged for money in a commercial setting.

• Example 2: A company manufactures smartphones and distributes them to various retailers, who then sell them to consumers. Each smartphone, from the moment it leaves the factory to its purchase by a customer, is an item that passes through commerce. It is designed to be bought, sold, and resold, embodying the concept of quae transeunt per commercium.

• Example 3: Shares of stock in a publicly traded corporation are bought and sold daily on stock exchanges by investors. Although intangible, these shares represent ownership in a company and are regularly exchanged for monetary value. Therefore, these financial instruments also fall under the category of quae transeunt per commercium, as they are actively traded commodities in the financial marketplace.