nabma

L1 – What is the legal definition of a market?

The classic definition of a market is a ‘concourse of buyers and sellers’ which has been approved in a number of Court cases. This definition includes car boot sales, table top sales, and specialist events such as Italian markets and Christmas markets. Some local authorities also include antique fayres and wedding fayres in the definition of a market. Normally you will need a minimum of five stands, stalls or pitches to constitute a legal market. The five stands, etc must be allocated to separate traders rather than one trader occupying all five. Obtaining this minimum number is important because once you have a legally constituted market, then certain rights and responsibilities follow.

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