Merchant

Quick Summary of Merchant

An individual whose occupation is to buy items at wholesale prices and sell them at retail prices.

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:

1. 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.
2. 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 labour of others reflected in agricultural produce, craftsmanship, 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.

Examples of Merchant in a sentence

You may want to try and have a good reputation as a merchant so that others will keep coming back to you.

Much like merchants of the olden days, modern merchants deal in buying items in bulk and reselling them for profit.

Ali loved her role as a merchant. She loved finding the best prices for materials and provide them to her customers.

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