| Merchants |
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Merchants can be categorised into two types: # A Wholesale merchant operates in the chain between producer and retail merchant. Some wholesale merchants only organise the movement of goods rather than move the goods themselves. # A Retail merchant sells commodities to consumers (including businesses), commonly known as retailers. A shop owner is a retail merchant. A merchant Class characterises 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 labour of others reflected in agricultural produce and tribute. 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. See also |