Significance in Law
See also: Ordinary course of businessIn the United States, "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/career.
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Famous quotes containing the words significance and/or law:
“History is the interpretation of the significance that the past has for us.”
—Johan Huizinga (1872–1945)
“Mr. Brownlow: The law supposes that your wife acts under your direction.
Bumble: If that’s what the law supposes, sir, then the law’s an ass. And if that’s the eye of the law, sir, then the law’s a bachelor.”
—Vernon Harris (c. 1910)