AskDefine | Define merchants

User Contributed Dictionary

English

Pronunciation

Noun

merchants
  1. Plural of merchant

Extensive Definition

For a list of people whose family name is or was Merchant, see Merchant (surname).
Merchants function as professionals who deal with trade, dealing in commodities that they do not produce themselves, in order to produce profit.
Merchants can be of two types:
  1. A wholesale merchant operates in the chain between producer and retail merchant. Some wholesale merchants only organize the movement of goods rather than move the goods themselves.
  2. A retail merchant or retailer, sells commodities to consumers (including businesses). A shop owner is a retail merchant.
A merchant class characterizes many pre-modern societies. Its status can range from high (even achieving titles like that of merchant prince or nabob) to low, such as in Chinese culture, due to the soiling capabilities of profiting from "mere" trade, rather than from the labor of others reflected in agricultural produce, craftsmanship, and tribute.
In the US, "merchant" is defined (under the Uniform Commercial Code) as any person while engaged in a business or profession or a seller who deals regularly in the type of goods sold. Under the common law and the Uniform Commercial Code in the United States, merchants are held to a higher standard in the selling of products than those who are not engaged in the sale of goods as a profession. For example, when a merchant sells something, he or she is deemed to give an implied warranty of merchantability, guaranteeing that the product is fit to be sold, even if there is nothing in writing to this effect. The UCC also contains a "merchant's confirmation" exception to the Statute of Frauds.
merchants in German: Kaufmann (HGB)
merchants in Spanish: Comerciante
merchants in Esperanto: Komercisto
merchants in French: Marchand (commerce)
merchants in Indonesian: Pedagang
merchants in Italian: Mercante
merchants in Hebrew: סוחר
merchants in Latvian: Tirgotājs
merchants in Dutch: Koopman (beroep)
merchants in Japanese: 商人
merchants in Polish: Kupiec
merchants in Russian: Продавец
merchants in Simple English: Merchant
merchants in Slovenian: Trgovec
merchants in Swedish: Köpman
merchants in Turkish: Tüccar
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