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LSDefine

Simple English definitions for legal terms

law merchant

Read a random definition: burglary

A quick definition of law merchant:

Law Merchant: A set of rules that were created during the Middle Ages in Europe to regulate the business dealings of merchants and sailors. These rules were used all over the world until the 17th century. Some of these rules were later included in the common law, which is the basis for the Uniform Commercial Code. Another name for the law merchant is commercial law or lex mercatoria.

A more thorough explanation:

Definition: Law merchant is a system of customary law that was developed in Europe during the Middle Ages. It regulated the dealings of mariners and merchants in all the commercial countries of the world until the 17th century. Many of the law merchant's principles came to be incorporated into the common law, which in turn formed the basis of the Uniform Commercial Code. It is also known as commercial law or lex mercatoria.

Example: One example of law merchant is the principle of good faith and fair dealing. This principle requires that parties to a contract act honestly and fairly towards each other. For example, if a merchant sells goods to another merchant, they must provide accurate information about the goods and not misrepresent them in any way.

Explanation: The example illustrates how the principle of good faith and fair dealing is an important part of law merchant. It ensures that merchants act honestly and fairly towards each other in their business dealings. This helps to build trust and confidence in the marketplace, which is essential for the smooth functioning of commerce.

law martial | lawnote

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LSDFan
11:09
lol
11:09
I thought it was door kicker syndrome from all the breaching
Dkk
11:09
Ahh childhood, what a sweet sexual time of discovery. Takes me back.
BulbasaurNoLikeCardio
11:09
Who knew firing thousands of rounds and being next to explosions was bad for our brains
11:09
It is almost like the people doing that used to die fast
11:10
Didnt plan on anyone living long enough lol
11:10
I long to die on a european battlefield
11:10
thats the true white mans burden
11:10
calm down mostly putin
babycat
11:10
yeah fuck gtown btw
LSDFan
11:10
they don't even kick doors. They put C4 in a dip can and tape it to the wall
11:10
I am sure they kick some doors but yes
11:11
@EvolBunny: im a uki
babycat
11:11
terrible admin
BulbasaurNoLikeCardio
11:11
@babycat: I wonder why gtown felt what they said was a good idea and how secure that individual felt in their job to believe there would be no backlash.
Dkk
11:11
please, tell me more about Europa: The Last Battle @MostlyLegal
11:11
nothing you dont already know
Dkk
11:12
Lmfao, damn out of messages again. Time to go sit in the hot tub.
11:12
@BulbasaurNoLikeCardio: honestly fuck these schools
11:12
The way they act is so cringe and gives mad ick
babycat
11:12
@BulbasaurNoLikeCardio: people are saying this has been a pattern with them
babycat
11:12
imagine being a religious school and not supporting mothers. practice what you preach!
11:12
Fuck dem hoes
11:13
Child bearing people*
11:13
i cant spell fuck dont correct me
11:15
Anywayyyyy, i think today i will withdraw all my apps
11:15
This lsat is not doing it
babycat
11:15
lol live ur truth
11:15
ASU at 154 is damn good
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