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Simple English definitions for legal terms

consuetudo mercatorum

Read a random definition: nephew

A quick definition of consuetudo mercatorum:

Term: CONSUETUDO MERCATORUM

Definition: Consuetudo mercatorum is a Latin term that means "the custom of merchants." It refers to the set of rules and practices that governed commercial transactions between merchants in medieval Europe. This was also known as law merchant, which was a body of commercial law that developed independently of national legal systems.

A more thorough explanation:

Definition: Consuetudo mercatorum is a Latin term that means "the custom of merchants." It refers to the practices and customs that have developed over time within the merchant community. This term is often used interchangeably with the term "law merchant."

Examples: One example of consuetudo mercatorum is the practice of using bills of exchange to facilitate international trade. Another example is the use of trade terms such as FOB (free on board) and CIF (cost, insurance, and freight) to specify the responsibilities of buyers and sellers in a transaction.

Explanation: These examples illustrate how consuetudo mercatorum refers to the customs and practices that have developed within the merchant community. The use of bills of exchange and trade terms are not necessarily required by law, but they have become widely accepted as standard practices within the industry. These customs help to facilitate trade and ensure that transactions are conducted smoothly and efficiently.

consuetudo curiae | consul

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babycat
16:37
I'm guessing you don't have a sibling named babycat but I hope I still make you marginally happier than normal despite this
JumpySubsequentDolphin
16:38
maybe he has a babycat
babycat
16:38
I think everyone should have a babycat
JumpySubsequentDolphin
16:39
im allergic to baby cats >:(
JumpySubsequentDolphin
16:40
I used to have a babycat, I only got allergies after he died
JumpySubsequentDolphin
16:40
I think he’s haunting me
babycat
16:40
:(
babycat
16:40
that's too bad
babycat
16:40
you still have me though <3
@babycat: you make my day marginally happier with your scathing wit
16:43
New Father John Misty album out today
16:44
People saying it’s his best yet by far
babycat
16:45
what would I do without you renard99
awww ty wasp :)
i have 4 (baby) cats!
16:46
Damn you know her sarcasm is meant to be scathing when she calls me by my full username and not just Renard
JumpySubsequentDolphin
16:47
@jackfrost11770: FOUR?!??
16:48
I’m only teasing Babycat ily I’ll be seeing you in [REDACTED] very very soon
YES
and they're all rescues from breeders so they're all long haired persians .... w flat faces ....
they're all runts cause breeders just ... dispose of them (:(((() so they're all super tiny
literal babies
babycat
16:49
ily2 renard99
initiallaw
16:49
omg so cute
JumpySubsequentDolphin
16:51
@jackfrost11770: IM SO JEALOUS
2big2fail
16:52
perhaps peggerdine this evening
2big2fail
16:52
but then again, perhaps not
JumpySubsequentDolphin
16:53
damn no ucla wave
16:56
Hey guys! chance me 340/340GRE- 2 years work experience at PIL and wrote compelling statements. but my masters gpa is kinda 3.1 because I was domestically abused. :p
babycat
16:59
schools mostly care about your undergrad GPA
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