Statute merchant

Definition of Statute merchant

(Eng. Law) a bond of record pursuant to the stat. 13 Edw. I., acknowledged in form prescribed, on which, if not paid at the day, an execution might be awarded against the body, lands, and goods of the debtor, and the obligee might hold the lands until out of the rents and profits of them the debt was satisfied; - called also a pocket judgment. It is now fallen into disuse.

See also: Statute

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-Statute merchant-
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