Information AboutMerchant |
| CATEGORIES ABOUT MERCHANT | |
| commerce | |
| occupations | |
| distribution, retailing, and wholesaling | |
|
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: # 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. # 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 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 . SEE ALSO |
|
|