Blacks Law Dict. 1st ed

MERCHANTS' ACCOUNTS

MERANNUM

768

and those bordering on the principality of Wales. 1 Bl. Comm. 65. MERCENARIUS. A hireling or serr ant. Jacob. MERCES. In the civil law. Reward of labor in money or other things. As distin guished from "pensio," it means the rent of farms, (prcedia rustici.) Calvin. MERCHANDISE. All commodities which merchants usually buy and sell, wheth er at wholesale or retail; wares and commod ities such as are ordinarily the objects of trade and commerce. But the term is never understood as including real estate, and is rarely applied to provisions such as are pur chased day by day, or to such other articles as are required for immediate consumption. MERCHANDISE MARKS ACT, 1862. The statute 25 & 26 Yict. c. 88, designed to prevent the fraudulent marking of merchan dise and the fraudulent sale of merchandise falsely marked. MERCHANT. A man who traffics or carries on trade with foreign countries, or who exports and imports goods and sells them by wholesale. Webster. Merchants of this description are commonly known by the name of "shipping merchants." A trader; one who, as a business, buys and sells wares and merchandise. MERCHANT APPRAISERS. Where the appraisement of an invoice of imported goods made by the revenue officers at the custom-house is not satisfactory to the im porter, persons may be selected (under this name) to make a definitive valuation. They must be merchants engaged in trade. MERCHANT SHIPPING ACTS. Certain English statutes, beginning with the St. 16 & 17 Viet. c. 131. whereby a general su perintendence of merchant shipping is vestetf in the board of trade. MERCHANTABLE. Fit for sale; vend ible in market; of a quality such as will bring the ordinary market price. MERCHANTMAN. A ahip or vessel employed in foreign or domestic commerce or in the merchant service. MERCHANTS' ACCOUNTS. Ao counts between merchant and merchant, which must be current, mutual, and unset tled, consisting of debts and credits for mer chandise. 6 How. (Miss.) 323.

MERANNTTM. In old records. Tim bers; wood for building. MERCABLE. Merchantable; to be sold or bought. MERCANTANT. A foreign trader. MERCANTILE AGENCIES. Estab lishments which make a business of collect ing information relating to the credit, char acter, responsibility, and reputation of mer chants, for the purpose of furnishing the in formation to subscribers. 15 Amer. & Eng. Enc. Law, 280. MERCANTILE LAW. An expression substantially equivalent to the law-merchant or commercial law. It designates the system of rules, customs, and usages generally recognized and adopted by merchants and traders, and which, either in its simplicity or as modified by common law or statutes, con stitutes the law for the regulation of their transactions and the solution of their contro versies. MERCANTILE LAW AMENDMENT ACTS. The statutes 19 & 20 Viet. cc. 60, 97, passed mainly for the purpose of assimi lating the mercantile law of England, Scot land, and Ireland. MERCANTILE PAPER. Commercial paper; such negotiable paper (bills, notes, checks, etc.) as is made or transferred by and between merchants or traders, and is governed by the usages of the business world and the law-merchant. MERCANTILE PARTNERSHIP. One which habitually buys and sells; one which buys for the purpose of afterwards selling. 32 Pittsb. Leg. J. (O. S.) 310. MERCAT. A market. An old form of the latter word common in Scotch law, formed from the Latin "mercatum." MERCATIVE. Belonging to trade. MERCATUM. Lat. A market. A contract of sale. Supplies for an army, (comtneattis.) MERCATURE. The practice of buying and selling. MERCEDARY. A hirer; one that hires. MERCEN-LAGE. The law of the Mer cians. One of the three principal systems of laws which prevailed in England about the beginning of the eleventh century. It was •observed in many of the midland counties.

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