Warning
Info
Warning
Info
Simple English definitions for legal terms
commerce
Read a random definition: United States person
A quick definition of commerce:
Commerce is when people exchange things like products, goods, and services to make money. It's like when you trade your toy with your friend's toy, but on a bigger scale. The government has rules to make sure that commerce is fair and safe for everyone. There's a law called the commerce clause that gives the government power to regulate commerce. Commerce can happen between people, businesses, or even countries.
A more thorough explanation:
Commerce refers to the exchange of goods, services, and money for financial gain. It is a broad term used to describe economic activity on a national or large scale.
The government uses commerce to define its authority to regulate commercial activity. The commerce clause in the US Constitution gives the federal government the power to govern many aspects of commerce in the country.
For example, when you buy a product from a store, you are engaging in commerce. When a business sells its products to another business, it is also engaging in commerce. When a country exports goods to another country, it is participating in international commerce.
Overall, commerce is an essential part of the economy and plays a significant role in the growth and development of businesses and nations.