statute merchant

Hist. 1.(cap.) One of two 13th-century statutes establishing procedures to better secure and recover debts by, among other things, providing for a commercial bond that, if not timely paid, resulted in swift execution on the lands, goods, and body of the debtor. 13 Edw., ch. 6 (1283); 15 Edw., ch. 6 (1285).

• These statutes were repealed in 1863.

— Also termed pocket judgment. 2. The commercial bond so established. Cf. STATUTE STAPLE.

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