Merchants are held to a higher standard of performance or duty than are nonmerchants.

Question

Quizplus · Accepted Answer

This is because merchants are considered professionals in their industry and have specialized knowledge and expertise that nonmerchants may not possess. As such, they are expected to uphold a certain standard of conduct and ethics when conducting business transactions. This is known as the merchant's duty or duty of good faith and fair dealing.

Merchants Are Held to a Higher Standard of Performance or Duty