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Simple English definitions for legal terms
merx et pretium
Read a random definition: cornering the market
A quick definition of merx et pretium:
Term: merx et pretium
Definition: Merx et pretium refers to goods and a price, which are both essential components of a sales contract in Roman and Scots law. In simpler terms, it means that when you buy something, you need to know what you're buying and how much it costs.
Term: mescreaunt
Definition: Mescreaunt is an old French word that means miscreant, which is someone who behaves badly or does something wrong. It's a term that was used in historical legal contexts.
A more thorough explanation:
merx et pretium
Merx et pretium is a legal term used in Roman and Scots law. It refers to goods and their price, which are two essential components of a sales contract.
When you go to a store to buy a shirt, the shirt is the merx and the price tag is the pretium. Both are necessary for the transaction to take place.
In a business deal, a seller offers a merx (such as a car) and a pretium (the amount of money they want for the car) to a buyer. If the buyer agrees to the pretium, they can purchase the merx.