estate by statute merchant
- estate by statute merchant
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The interest or estate of the creditor in land conveyed to him under the statute 13 Edward I, De Mercatoribus, and therefore called a statute merchant. This conveyance was by way of security to be held by the creditor as "tenant by statute merchant" until the income and profits from the land conveyed should discharge the debt, which was an ascertained and definite sum. This transaction was entered into between the parties before the chief magistrate of some trading town. See 2 Bl Comm 160.
Ballentine's law dictionary.
Anderson, W.S..
1998.
Look at other dictionaries:
statute merchant — See De Mercatoribus; estate by statute merchant … Ballentine's law dictionary
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