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§ 196. “Trading . . Corporations.”

A trading corporation is one formed for the purpose of carrying on trade. To trade, as we have seen (Note, § 162, supra), means to buy and sell; to be engaged in the exchange, barter, traffic, bargain, or sale of goods, wares, and merchandize, or to carry on commerce as a business. The Federal Parliament may legislate concerning trading corporations formed within the limits of the Commonwealth. Such corporations may be both created and wound up under the provisions of Federal law; whilst foreign corporations cannot be either created or wound up by Federal law, though their business operations and property can be regulated and affected.




  ― 607 ―
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