trading corporation

A kind of business corporation. A corporation the chief business of which is to buy and sell for profit goods and chattels. The following have been held not to be trading corporations: a warehouse company, a company to buy and sell stocks and bonds, a fire insurance company, a building and loan association, a water company, a laundry company, a transportation company, a forwarding company, a public library, a social club, a mining company. See United States Hotel Co. v Niles (CA6 Ohio) 134 F 225.

Ballentine's law dictionary. . 1998.

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