Which of the following statements best describes the law merchant?
A) The law merchant is a body of law created by merchant guilds, which was incorporated into the common law.
B) The law merchant is a body of law designed to control trade practices.
C) The law merchant is another name for the Sale of Goods Act.
D) The law merchant was designed to protect consumers from unscrupulous merchants.
E) Our laws relating to consumer protection are derived from the law merchant.

Question

Quizplus · Accepted Answer

The law merchant was created by and for merchants, and it was eventually incorporated into common law. Its purpose was to regulate commercial transactions and resolve disputes between merchants.

Which of the Following Statements Best Describes the Law Merchant