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usage of trade
usage of trade definition - legal
n
A trade practice that is so common in a particular region or vocation that an
expectation of its being followed in a given transaction is justified; a usual
and customary practice or set of practices connected with a particular type of
business or trade; for example, in mortgage loan transactions it is customary
for the borrower to pay for an appraisal of the value of the property.
Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.
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