Trading Corporation Law and Legal Definition

Trading corporation is a kind of business corporation in which the chief business is to buy and sell goods and chattels for profit.

However, the following have been held not to be trading corporations: 1) a warehouse company, 2) a company to buy and sell stocks and bonds, 3) a fire insurance company, a building and loan association, 4) a water company, 5) a laundry company, 6) a transportation company, 7) a forwarding company, 8) a public library, 9) a social club, 10) a mining company. [In re United States Hotel Co., 134 F. 225 (6th Cir. Ohio 1904)]