"A merchant making up the account" by Shiatsus Hokusai

Merchants function as professionals who deal with trade, dealing in commodities that they do not produce themselves, in order to produce profit. Trade is the willing exchange of goods, services, or both Trade is also called Commerce.

Merchants can be of two types:

1. A wholesale merchant operates in the chain between producer and retail merchant. Wholesaling is the sale of Goods or Merchandise to Retailers to industrial commercial institutional or other professional Business users 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. Social class refers to the hierarchical distinctions (or stratification) between individuals or groups in Societies or Cultures. Pre-industrial society refers to specific social attributes and forms of political and cultural organization that were prevalent before the advent of the Industrial Revolution 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, craftsmanship, and tribute. A Nawab or Nawaab ( Urdu: نواب Hindi: नवाब was originally the Subedar (provincial governor or viceroy of a The Culture of China (traditional Chinese 中國文化 simplified Chinese 中国文化 is home to one of the world's oldest and most complex Civilizations covering a history Trade is the willing exchange of goods, services, or both Trade is also called Commerce.

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. The United States of America —commonly referred to as the The Uniform Commercial Code ( UCC or the Code is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of 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. Common law refers to law and the corresponding legal system developed through decisions of courts and similar tribunals rather than through legislative statutes or executive The Uniform Commercial Code ( UCC or the Code is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of The United States of America —commonly referred to as the 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. In Common law jurisdictions an implied warranty is a Contract law term for certain assurances that are presumed to be made in the sale of products or Real property The UCC also contains a "merchant's confirmation" exception to the Statute of Frauds. The statute of frauds refers to the requirement that certain kinds of Contracts be made in writing and signed

References

• The Merchant Class of Medieval London By Sylvia L. Thrupp [1]

See also

• sales
• commerce
• distribution
• mercantilism
• capitalism
• merchant marine

• Merchant account