Legal Definitions - de statuto mercatorio

The term de statuto mercatorio is a historical legal concept originating from Law Latin, meaning "of statute merchant." It refers to a specific type of legal writ (a formal written order from a court) used in medieval England.

Historically, a statute merchant was a bond or obligation acknowledged before a designated official, such as a mayor or a royal clerk, which allowed a creditor to secure a debt quickly and efficiently without the lengthy process of a traditional lawsuit. If a debtor failed to pay a debt secured by such a bond, the creditor could obtain a de statuto mercatorio writ. This writ ordered the imprisonment of the defaulting debtor until the debt, along with any associated costs, was fully paid or a satisfactory arrangement was made.

Here are some examples illustrating how this historical writ would have been applied:

• Example 1: Merchant-to-Merchant Transaction

  Imagine a scenario in 14th-century London where a spice merchant, Elias, sold a large quantity of pepper to a baker, Thomas, on credit. To ensure payment, Thomas acknowledged a statute merchant bond before the Mayor of London, promising to pay Elias by a specific date. If Thomas failed to make the payment by the due date, Elias could petition the court for a de statuto mercatorio writ. This writ would then authorize the sheriff to arrest Thomas and imprison him until the debt for the pepper was settled, thereby compelling Thomas to fulfill his financial obligation.

• Example 2: Landowner's Loan

  Consider Lady Margaret, a landowner in the 15th century, who needed funds to repair her castle. She borrowed a substantial sum from a wealthy wool merchant, Sir Geoffrey, and secured the loan with a statute merchant bond, acknowledged before a royal clerk. If Lady Margaret subsequently defaulted on her repayment to Sir Geoffrey, he could apply for a de statuto mercatorio writ. Upon issuance, this writ would lead to Lady Margaret's imprisonment, putting significant pressure on her or her family to find the means to repay Sir Geoffrey and secure her release.

• Example 3: Supplier and Craftsman Debt

  In a medieval town, a timber supplier named William provided wood to a master carpenter, Robert, for a major construction project. Robert secured his payment to William with a statute merchant bond. When Robert failed to pay William by the agreed-upon deadline, William could obtain a de statuto mercatorio writ. This writ would result in Robert's arrest and imprisonment, serving as a powerful legal tool to force the carpenter to either pay the outstanding amount for the timber or negotiate a settlement with William.