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LSDefine

Simple English definitions for legal terms

statute merchant

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A quick definition of statute merchant:

A statute merchant is an old law that helped people get their money back if someone owed them a debt. It was made in the 13th century and allowed creditors to take the debtor's lands, goods, and even their body if they didn't pay back the money they owed. This law was repealed in 1863, but it was an important step in helping people secure their debts and protect their businesses.

A more thorough explanation:

Definition: Statute Merchant is a historical law that was established in the 13th century to secure and recover debts. It provided for a commercial bond that, if not paid on time, resulted in swift execution on the lands, goods, and body of the debtor. The commercial bond established under this law is also known as a pocket judgment.

Example: Under the Statute Merchant, a creditor could demand the seizure and imprisonment of the debtor's body if they failed to pay their debt on time. This law was important for the growth of commerce as it provided a way for creditors to secure their debts and recover them quickly.

Explanation: The Statute Merchant was a significant development in English law as it allowed creditors to have more power in securing their debts. The law was repealed in 1863, but it played an important role in the history of commerce and debt recovery.

statute-making | statute mile

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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