Transaction

“ The first transaction is of a personal nature between the owners and a third party who is a purchaser; in the other transaction the third party, who is an investor, puts in money to acquire an interest and his investment becomes the common property of all the owners of whom he is now one. ”

“ The advance which he has in view is to come out of the prospective earnings of the capital for which he negotiates. What he has in view as his ulterior end in the transaction is the conversion of the values for which he negotiates into a larger outcome of money values, - whatever process of production and the like may intervene between the inception and the goal of his traffic. ”

“ What was there extraordinary about this transaction as compared with the borrowing of any commodity other than stock for a business reason and with a business purpose? In the conduct of every business situations arise which must be met. The circumstance that such a situation had not theretofore arisen, or that the transaction was the first of its kind in the respondent's business experience, does not render it extraordinary in the sense in which the statute uses the term. ”

“ No large purchase shall be made, nor any transaction out of the usual course of the business shall be undertaken by either of the partners, without previous consultation with, and the approbation of, the other partner. ”

“ The following operation is only one of ten thousand in which exchange men are continually engaged, but is a representative transaction and one on which a good deal of the business in the arbitration of exchange is based. ”

“ When a merchant treated with a seller who had come into the town, any of his fellows who happened to come in at the moment when the earnest-money was paid and the striking of hands in ratification of the bargain took place, had the right to claim a share in the transaction and to obtain the goods in question at the same price. ”

“ When a dealer extends his purchases beyond his immediate means of payment, engaging to pay at a specified time, he does so in the expectation either that the transaction will have terminated favorably before that time arrives, or that he shall then be in possession of sufficient funds from the proceeds of his other transactions. ”

“ For the purposes of the latter rule,
"Transaction" is a word of flexible meaning. It may comprehend a series of many occurrences, depending not so much upon the immediateness of their connection as upon their logical relationship. ”

“ Every transaction in commerce is an independent transaction. ”

“ It is charged that one financier, when he undertook any large transaction which was more than usually questionable, made a covenant that if the Lord prospered him in his undertaking he would divide the proceeds on favorable terms. ”

“ Thus, for instance,146 one thing is given for another, which constitutes barter, the most ancient kind of traffic; the next step in the progress of commercial intercourse is where one kind of money is given for another, a transaction which by merchants is called exchange; and a third species of contract is where money is given for any thing, as in the acts of selling and buying. Or the USE of one thing may be given for that of another; money also may be given for the USE of a thing, which last method constitutes the acts of letting and hiring. ”

“ Transaction for Action, or Incident. "The policeman struck the man with his club, but the transaction was not reported." "The picking of a pocket is a criminal transaction." In a transaction two or more persons must have an active or assenting part ”

“ I am aware, that it will be said, and very truly said, that the concerns of merchants; that the purchasing of great estates, and various other great transactions, cannot be carried on in this manner; but these are rare exceptions to the rule; even in these cases there might be much less of bills and bonds, and all the sources of litigation; but in the every-day business of life; in transactions with the butcher, the baker, the tailor, the shoemaker, what excuse can there be for pleading the example of the merchant, who carries on his work by ships and exchanges? ”

“ The true office of commerce is to facilitate exchanges of articles between men, to the amount that their wants and interests require; but as every transfer of property leaves a profit with the merchant, he has a disposition to increase his gains, by pushing his transactions beyond the just limits of trade. ”

“ It arises wholly from the nature of the subject, as we shall soon see, and not at all from the insufficiency of the word, Value. We have already seen fully, that Buying and Selling in each and [34] every transaction is complex and relative, involving twelve elements every time; that Desires and Estimates and Renderings are especially relative,—each party to a trade desires something in possession of the other, estimates that something relatively to something in his own possession, and finally renders to the other his own something for the sake of receiving the other's something. ”

“ Do they not concern the trade of merchandise?
Does the agreement alter the nature of these transactions? In every trade there is an agreement, written or otherwise: as to factors it is generally a written contract; and this case may well be considered as one between merchant and factor. ”

“ The work is supplemented by another. The Manual of Business Transactions, which contains transactions only, in the describing of which the student must exercise his own judgment, and thus acquire proficiency in the application of principles. ”

“ Their merchants, whose enterprise was proverbial, were familiar with some of the ingenious expedients that, in our day, among civilized nations, so facilitate and simplify important business transactions. ”

“ The said salesman shall, subject to the control of the said firm, keep proper books of account, and make due and correct entries of the price of all goods sold, and of all transactions and dealings of and in relation to the said business, and shall serve the said firm diligently and according to his best abilities in all respects. ”

“ A sells his claim on C to B, who remits it to D in satisfaction of his debt, and D receives the cash from C, so that, assuming the two transactions to be of equal value, one piece of paper satisfies the four parties to these two transactions, and the trouble, expense and risk of sending money from both places are avoided. ”

“ Even in transactions where the Company is really nothing more than a business agency, it will temporarily appear as a purchaser, and will be set down as the momentary possessor in the register of landed property. ”

“ Pub. L. 101-311, Sec. 201 (1) , inserted "as defined in section 761 (8) of this title, or any similar good, article, service, right, or interest which is presently or in the future becomes the subject of dealing in the forward contract trade," after "transfer of commodity," and ", including, but not limited to, a repurchase transaction, reverse repurchase transaction, consignment, lease, swap, hedge transaction, deposit, loan, option, allocated transaction, unallocated transaction, or any combination thereof or option thereon" after "entered into". Par. (25) . Pub. ”

“ Where the above advantages and information are not desired nor necessary, as in a very simple business under the immediate supervision of the proprietor, or in simple executorship transactions, etc., single entry may suffice. ”

“ The standard of Exchange in all mercantile transactions with the natives is a beaver skin, the relative value of which, as originally established by the traders, differs considerably from the present worth of the articles it represents ”

“ Transactions of a commercial character extend throughout the civilized world, and it is well known that they are chiefly conducted through the medium of bills of exchange and other negotiable instruments. Uniformity of decision is a matter of great public convenience and universal necessity, acknowledged by all commercial nations. ”

“ Mercantile transactions with them are uses whereby they serve their country and their fellow-citizens; and they are also placed by their wealth in a position to perform any uses to which the affection of good leads them. ”

“ This is the constant multiplication of intervening agents—middle-men, factors, brokers, speculators, contractors, and distributors of every sort—between the producer and the consumer, or between the primary owner and the ultimate owner of almost everything which is the subject of ownership and trade. Those two, who are the actual persons brought chiefly into relationship by the thing in question, are put quite out of sight of one another in most of the transactions of modern industry and commerce ”

“ Transactions are so frequent, the necessities of commerce so extensive, that a large circulating medium is soon felt to be indispensable. In addition to a considerable amount of specie, the aid of bank-notes, public and private, of Government securities and exchequer bills, and of private bills to an immense ammount, bcomes necessary. ”

“ The making and publishing of quotations for commodities or securities by groups of men calling themselves an exchange, or by any other similar444 title, whether incorporated or not, should be prohibited by law, where such quotations do not fairly and truthfully represent any bona fide transactions on such exchanges. ”

“ The Special Journal a Labor-Saving Device.—This use of the journal can also be made in connection with other transactions, with similar great saving of labor. Throughout the day in every business there is a large number of cash transactions—receipts and disbursements—which require a debit and credit record. Also purchases of merchandise, although not numerous for any particular day, comprise a large number of entries during the course of a month or year. ”

“ For you, O broker! there is no other principle but arithmetic. For me, commerce is of trivial import; love, faith, truth of character, the aspiration of man, these are sacred; nor can I detach one duty, like you, from all other duties, and concentrate my forces mechanically on the payment of moneys. ”

“ The manufacturer supplies the wholesale dealer; the wholesale dealer provides the retail tradesman; and the retail tradesman carries on his business with his customers upon the sure foundation of credit. Not a coin is seen in the hands of either party from one year’s end to the other; and a man’s wealth is known not by the mere exchangeable property he possesses, but by the extent of the credit he is allowed. Political economy is a wonderful science, sir; and the ancients were entirely ignorant of its true principles. ”

“ Such as are venders of goods and merchandise will not take the advantage of the scarcity of goods that may be occasioned by this association, but will sell the same at the rate we have been respectively accustomed to do for twelve months last past: and if any vender of goods or merchandise shall sell any such goods on higher terms, or shall in any manner or by any device whatsoever depart from this agreement, no person ought, nor will any of us deal with any such person, or his or her factor or agent at any time hereafter, for any commodity whatever. ”

“ Martin, 2 Wall. 70,-that where one partner is present, in sole charge of the business, while the other is at a distance, in order to sustain a sale of the absent partner's interest, it must be made to appear that the price paid approximates a fair consideration for the thing purchased, and that all the information in the possession of the purchaser necessary to enable the seller to form a sound judgment of the value of what he sells should be communicated by the buyer to him. ”

“ In reality there existed ‘termless terms,’ a ‘complete anarchy in the method of payment.’ ... The manufacturer cannot be at the same time commission agent, banker, merchant and retail dealer; he needs sound customers capable of paying. ”

“ One partner may confess judgment, or give bonds, or current notes in the name, and as for the account of the company, and yet convert the effects to his own private use, leaving the stock to be answerable for the value. ”

“ The custom of the country invariably exacts the payment of one-half of the amount agreed upon in advance, in order that the contractor may be in funds to purchase stock, wherewith to fill his contract. ”

“ Now therefore let the learned Lawyer fall cheerfully to his books again, for the Merchant cannot put him down, if he have no more skill than is in his Exchange. Are these such admirable feats, when they may be so easily know and done in the course of trade? ”

“ If a merchant has given to an agent grain, wool, or oil, or anything whatever to sell, the agent shall write down the price and shall return the money to the merchant. The agent shall take a receipt for the money which he gives to the merchant. ”

“ So a sale upon credit, instead of being for ready money, under a general authority to sell, and in a trade where the usage is to sell for ready money only, creates to contract between the owner and the buyer, and the thing sold may be recovered in an action of trover. ”

“ So that the party who has received the money, the seller, has only thus obtained a power to make subsequently an inverse operation, that is a purchase where and when it pleases him. The operation of selling and buying is then nothing less than the exchange of a thing for a power. ”

“ This is no more than an expansion of its simplest signification, that of an exchange of goods, the bringing of them from the seller to the buyer, however vast the range now comprehended by the term in the progress of society. ”

“ The merchant, the manufacturer, the contractor, are to be able to depend again upon the value of the money they invest in the goods they sell, and upon that assurance they can base safe business calculations. ”