statute merchant Law. Now only Hist.
[statute n. + merchant a.
An elliptical use of the designation of the Statute of Merchants of 1285, (Anglo-L. statutum de mercatoribus, also statutum mercatorium, AFr. estatut marchand) whence the powers of summary execution of this kind of instrument were derived.]
A bond of record, acknowledged before the chief magistrate of a trading town, giving to the obligee power of seizure of the land of the obligor if he failed to pay his debt at the appointed time.
| [1347–8 Rolls of Parlt. II. 211/2 Robert Lok, & Walter de Norton furent tenutz & obligetz a dit Everard en centz & vintz livrez d'essterlings par Estatu Marchaund a paier a certein jour.] 1442 Calverley Charters (Thoresby Soc. 1904) 253 Walter shall fynd sufficiant surety, boundon in statute marchant, in D marc' to the saide Sir John. 1456 in Sel. Cases Chanc. (Selden Soc.) 139 A statut marchant of ccc.li. specyfied yn the sayde bylle. 1463 Mann. & Househ. Exp. (Roxb.) 180 An oblygasyon of statew marchend. cc. marke. 1592 Greene Black Book's Messenger Wks. (Grosart) XI. 30 The welthy Gentleman..lends him money, and takes a faire Statute marchant of his Lands before a Iudge. 1592 Nashe P. Penilesse Wks. (Grosart) II. 15 The Diuel..would let one for a neede, haue a thousand poundes vppon a Statute Merchaunt of his soule. 1766 Blackstone Comm. ii. x. 160 During such time as the creditor so holds the lands, he is tenant by statute merchant or statute staple. 1825 Owen & Blakeway Shrewsbury I. 541 The Clerk of the Statute Merchant. 1855 Macaulay Hist. Eng. xii. III. 211 How much money had proprietors borrowed on mortgage, on statute merchant, on statute staple! |