mercantile law - Meaning in Malayalam
mercantile law - Meaning in Malayalam
noun
Definitions and Meaning of mercantile law in English
mercantile law noun
- the body of rules applied to commercial transactions; derived from the practices of traders rather than from jurisprudence
Synonyms
commercial law, law merchant
Synonyms of mercantile law
Description
Lex mercatoria, often referred to as "the Law Merchant" in English, is the body of commercial law used by merchants throughout Europe during the medieval period. It evolved similar to English common law as a system of custom and best practice, which was enforced through a system of merchant courts along the main trade routes. It developed into an integrated body of law that was voluntarily produced, adjudicated and enforced on a voluntary basis, alleviating the friction stemming from the diverse backgrounds and local traditions of the participants. Due to the international background local state law was not always applicable and the merchant law provided a leveled framework to conduct transactions reducing the preliminary of a trusted second party. It emphasized contractual freedom and inalienability of property, while shunning legal technicalities and deciding cases ex aequo et bono. With lex mercatoria professional merchants revitalized the almost nonexistent commercial activities in Europe, which had plummeted after the fall of the Roman Empire.
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What is mercantile law meaning in Malayalam?
The word or phrase mercantile law refers to the body of rules applied to commercial transactions; derived from the practices of traders rather than from jurisprudence. See mercantile law meaning in Malayalam, mercantile law definition, translation and meaning of mercantile law in Malayalam. Find mercantile law similar words, mercantile law synonyms. Learn and practice the pronunciation of mercantile law. Find the answer of what is the meaning of mercantile law in Malayalam.
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What is mercantile law meaning in Malayalam, mercantile law translation in Malayalam, mercantile law definition, pronunciations and examples of mercantile law in Malayalam.