What is the test for "an adventure in the nature of trade"?
Canada (Federal), Canada
The following excerpt is from 9228-2987 Québec Inc. v. The Queen, 2019 TCC 281 (CanLII):
In Friesen v. Canada, 1995 CanLII 62 (SCC), [1995] 3 S.C.R. 103 (Friesen), Major J. indicated that the concept of “an adventure in the nature of trade” is “. . . a judicial creation designed to determine which purchase and sale transactions are of a business nature and which are of a capital nature” (at paragraph 15).
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