usage of trade

Under Article 2 of the Uniform Commercial Code usage of trade is often used to aid in interpreting contracts and to give terms particular meanings. A usage of trade is a practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction.

[Last reviewed in July of 2024 by the Wex Definitions Team ]

Keywords

• contract law

Wex

• COMMERCE
• commercial activities
• business law
• contracts
• wex definitions
• business sectors
• commercial transactions