“All writings in re mercatoria are privileged, and are held valid and binding, although wanting the solemnities common and necessary to ordinary deeds …. This privilege has been given to these documents, because of the rapidity with which, in most cases, they have to be prepared, and the immediate use to which they have to be put, and also because, from the necessity of the case, they are generally prepared by those who are not supposed to be acquainted with the formalities and solemnities of deeds.” John Trayner, Trayner’s Latin Maxims 273 (4th ed. 1894).
in re mercatoria
in re mercatoria (in ree m[schwa]r-k[schwa]-tor-ee-[schwa]). [Latin] Scots law. In a mercantile transaction. • Documents made in or connected with a mercantile transaction did not require the typical formalities in order to be binding.
