Employment, occupation, profession, or commercial activity engaged in for gain or livelihood. Activity or enterprise for gain, benefit, advantage or livelihood. Union League Club v. Johnson, 18 Cal.2d 275, 108 P.2d 487, 490.
Enterprise in which person engaged shows willingness to invest time and capital on future outcome. Doggett v. Burnet, 62 App.D.C. 103, 65 F.2d 191, 194.
That which habitually busies or occupies or engages the time, attention, labor, and effort of persons as a principal serious concern or interest or for livelihood or profit.
See also association
- joint enterprise
@ business agent
Agent having some general supervision over general affairs. Person employed by union members to represent them in relations with business-employer
@ business bad debt
See business bad debts
@ business done in state
Business begun and completed or ended in state. Clark v. Atlantic Pipe Line Co., Tex.Civ.App., 134 S.W.2d 322, 328
@ business enterprise
Investment of capital, labor and management in an undertaking for profit; one of the recognized attributes is centralized management and control. Helvering v. Jewel Mining Co., C.C.A.8, 126 F.2d 1011, 1015
@ business expense
An expense incurred in connection with carrying on a trade or business, the purpose of which is the production of income. Such expenses are deductible in arriving at taxable income. I.R.C. No. 162
+ business expense
One which is directly related to one's business as contrasted with expenses incurred for personal and family reasons.
See tax deduction
@ business gains
Gains from the sale, exchange, or other disposition of property used in a trade or business. Fackler v. Commissioner of Internal Revenue, C.C.A.6, 133 F.2d 509, 512
@ business guest
One invited to business establishment as a guest and to whom a duty of care is owed generally greater than to a social guest, though such distinctions are becoming less acceptable in the area of torts; see e.g. Mounsey v. Ellard, 363 Mass. 693, 297 N.E.2d 43.
See guest
@ business hours
In general those hours during which persons in the community generally keep their places open for the transaction of business. Casalduc v. Diaz, C.C.A.Puerto Rico, 117 F.2d 915, 916
@ business invitee
One who is impliedly invited to premises for transacting business and to whom a duty of due care is owed. One who goes on another's premises at express or implied invitation of owner or occupant for benefit of invitor or for mutual benefit and advantage of both invitor and invitee. Campbell Sixty-Six Exp., Inc. v. Adventure Line Mfg. Co., 209 Kan. 357, 496 P.2d 1351, 1355.
See invitee, and business visitor, below
@ business league
An association is a business league if persons thereof have some common business interest. Underwriters' Laboratories v. Commissioner of Internal Revenue, C.C.A.7, 135 F.2d 371, 374
@ business losses
Losses from sale, exchange, or other disposition of property used in trade or business. Fackler v. Commissioner of Internal Revenue, C.C.A.6, 133 F.2d 509, 512.
See also business bad debts
@ business of peddling
Business of one relying on present solicitation of chance patrons for purchases of uncertain quantities and making concurring deliveries
@ business of public character
Business wherein person engaged expressly or impliedly holds himself out as engaged in business of supplying his product or service to public as a class or to limited portion of public
@ business purpose
Term used on occasion to describe the use to which property may be put or not, as in a deed's restrictive covenant. A justifiable business reason for carrying out a transaction. It has long been established that mere tax avoidance is not a business purpose. The presence of a business purpose is of crucial importance in the area of corporate readjustments and certain liquidations
@ business records
Journals, books of account and other records which may be ordered produced as part of discovery in trial or preparation of case and generally given broad interpretation for such purposes; see e.g. Fed.R.Civ.Proc. Rules 26(bXD, 45(b).
See also business entry rule
- business records exception
@ business risk
In finance, the risk of default or variability of return arising from the type of business conducted
@ business situs
A situs acquired for tax purposes by one who has carried on a business in the state more or less permanent in its nature. A situs arising when notes, mortgages, tax sale certificates and the like are brought into the state for something more than a temporary purpose, and are devoted to some business use there and thus become incorporated with the property of the state for revenue purposes. A situs arising where possession and control of property right has been localized in some independent business or investment away from owner's domicile so that its substantial use and value primarily attach to and become an asset of the outside business. State v. Atlantic Oil Producing Co., 174 Okl. 61, 49 P.2d 534, 538
@ business trust
As distinguished from a joint-stock company, a pure "business trust" is one in which the managers are principals, and the shareholders are cestuis que trust. The essential attribute is that property is placed in the hands of trustees who manage and deal with it for use and benefit of beneficiaries. Morriss v. Finkelstein, Mo.App., 127 S.W.2d 46, 49. A "Massachusetts trust" or "common-law trust."
- real estate investment trust (REIT)
@ business usage
See business purpose, above
@ business use of home
Expenses incurred in connection with the use of a taxpayers residence for the purpose of carrying on a trade or business are deductible if the residence is used exclusively and regularly as the taxpayers principal place of business and the place where the taxpayers meet with customers. I.R.C. No. 280A
@ business visitor
One who is invited or permitted to enter or remain upon the premises of another for a purpose directly or indirectly connected with the business dealings between them. Lemon v. Busey, 461 P.2d 145, 149.
One who comes on premises at occupant's instance for purposes connected with purpose, business, or otherwise, for which occupant uses premises.
See also guest
- invitee, and business guest
- business invitee, above.
@ farming business
@ private business
One in which capital, time, attention, labor, and intelligence have been invested for gain and profit for private benefit, purposes and use.
@ public business
An element is that the business by its nature must be such that the public must use the same, or the commodities bought and sold in such manner as to affect the community at large as to supply, price, etc.
@ business bad debts
An obligation obtained in connection with a trade or business which becomes partially or totally worthless. Business bad debts are fully deductible in arriving at taxable income, in contrast with non-business bad debts which are considered casualty losses and limitations apply.
See also bad debt
@ business entry
A writing or memorandum of a fact or event made in the regular course of business whose regular course is to make the writing or memorandum at the time of the fact or event or within a reasonable time thereafter. U.S. v. Chong, ACMR, 8 M.J. 592, 594
@ business entry rule
Exception to hearsay rule which allows introduction of entries made in usual course of business into evidence though person who made such entry is not in court. Fed.Rules Evid., Rule 803(6); 28 U.S.C.A. No. 1732.
See also business records exception
@ business judgment rule
This rule immunizes management from liability in corporate transaction undertaken within both power of corporation and authority of management where there is reasonable basis to indicate that transaction was made with due care and in good faith. Nursing Home Bldg. Corp. v. DeHart, 13 Wash. App. 489, 535 P.2d 137, 144
@ business pursuit
Within the meaning of homeowners insurance policy exclusion, term denotes continued or regular activity for purpose of earning a livelihood such as a trade, profession, or occupation, or a commercial activity. Industrial Indem. Co. v. Goettl, App., 138 Ariz. 315, 674 P.2d 869, 872
@ business records exception
An exception to the hearsay exclusion rule that allows original, routine records (whether or not part of a "business") to be used as evidence in a trial even though they are hearsay. Under this exception to hearsay rule, documentary evidence is admissible if identified by its entrant, or one under whose supervision it is kept and shown to be original or first permanent entry, made in routine course of business, at or near time of recorded transaction, by one having both duty to so record and personal knowledge of transaction represented by entry. Simmons v. State, 175 Ind.App. 333, 371 N.E.2d 1316, 1320.
See also business entry rule.
@ business tort
A noncontractual breach of a legal duty by a business directly resulting in damages or injury to another

Black's law dictionary. . 1990.

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