With The Principal Objective Of Livelihood And Profit Law and Legal Definition
With the principal objective of livelihood and profit means that the sale of firearms should be done to obtaining livelihood and pecuniary gain, as opposed to other intents, such as improving or liquidating a personal firearms collection.
Following is an example of a federal statute defining the term with the principal objective of livelihood and profit:
According to 18 USCS § 921 (22) The term "with the principal objective of livelihood and profit" means that the intent underlying the sale or disposition of firearms is predominantly one of obtaining livelihood and pecuniary gain, as opposed to other intents, such as improving or liquidating a personal firearms collection: Provided, That proof of profit shall not be required as to a person who engages in the regular and repetitive purchase and disposition of firearms for criminal purposes or terrorism. For purposes of this paragraph, the term "terrorism" means activity, directed against United States persons, which--
(A) is committed by an individual who is not a national or permanent resident alien of the United States;
(B) involves violent acts or acts dangerous to human life which would be a criminal violation if committed within the jurisdiction of the United States; and
(C) is intended--
(i) to intimidate or coerce a civilian population;
(ii) to influence the policy of a government by intimidation or coercion; or
(iii) to affect the conduct of a government by assassination or kidnapping.
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