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Simple English definitions for legal terms
Statutum de Nova Custuma
Read a random definition: employment-at-will doctrine
A quick definition of Statutum de Nova Custuma:
Statutum de Nova Custuma: A law made in England in 1303 that gave special privileges to certain foreign merchants. These merchants had to pay taxes, but in return, they were allowed to trade freely throughout England, export their goods, live wherever they wanted, and had certain legal rights. This law is also known as Carta Mercatoria.
A more thorough explanation:
Definition: Statutum de Nova Custuma was an English statute enacted in 1303 that established rules favoring certain foreign merchants. In exchange for paying customs duties, these merchants received extensive trading rights throughout England, the power to export their merchandise, the liberty to dwell where they pleased, and certain legal rights. It is also known as Carta Mercatoria.
Example: A merchant from France who paid customs duties could sell their goods in London and other English cities without any restrictions. They could also live wherever they wanted and had legal rights to protect their business interests.
Explanation: The example illustrates how the Statutum de Nova Custuma allowed foreign merchants to conduct business in England with greater freedom and protection. By paying customs duties, they gained access to extensive trading rights and legal protections that helped them succeed in the English market.