: the legal rules formerly applied to cases arising in commercial transactions
Example Sentences
Recent Examples on the WebThe rules governing commerce between nations, themselves derived from the law merchant, are a perfect example of non-governmental law. Alexander William Salter, National Review, 6 Nov. 2020
Word History
First Known Use
15th century, in the meaning defined above
Legal Definition
law merchant
noun
: the commercial rules developed under English common law that influenced modern commercial law and that are referred to as supplementing rules set down in the Uniform Commercial Code and in state codes