Trading

If by trading, in prize law, was meant that signification of the term which consists in negotiation or contract, this case would certainly not come under the penalties of the rule. But the object, policy and spirit of the rule is to cut off all communication or actual locomotive intercourse between individuals of the belligerent states. Negotiation or contract has, therefore, no necessary connexion with the offence. Intercourse inconsistent with actual hostility, is the offence against which the operation of the rule is directed.

Engaging In trade, (q. v.;) pursuing the business or occupation of trade or of a trader.

— Trading corporation. See Corporation.

— Trading partnership. Whenever the business of a firm, according to the usual modes of conducting it, imports, in its nature, the necessity of buying and selling, the firm is properly regarded as a "trading partnership" and is invested with the powers land subject to the obligations incident to that relation. Dowling v. National Exch. Bank, 145 U. S. 512, 12 Sup. Ct. 928, 36 L. Ed. 795.

— Trading voyage. One which contemplates the touching and stopping of the vessel at various ports for the purpose of traffic or sale and purchase or exchange of commodities on account of the owners and shippers, rather than the transportation of cargo between terminal points, which is called a "freighting voyage." See Brown v. Jones, 4 Fed. Cas. 406.