primarily engaged
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 329 U.S. 441 - Board of Governors of the Federal Reserve System v. Agnew · 1947Most cited · 258 citing opinions
An activity or function may be 'primary' in that sense if it is substantial. If the underwriting business of a firm is substantial, the firm is engaged in the underwriting business in a primary way though by any quantitative test underwriting may not be its chief or principal activity. On the facts in this record we would find it hard to say that underwriting was not one primary activity of the firm and brokerage another.