Which of the Following Statements Best Describes the Law Merchant

question 121

Multiple Choice

Which of the following statements best describes the law merchant?

• A) The law merchant is a body of law created by merchant guilds, which was incorporated into the common law.
• B) The law merchant is a body of law designed to control trade practices.
• C) The law merchant is another name for the Sale of Goods Act.
• D) The law merchant was designed to protect consumers from unscrupulous merchants.
• E) Our laws relating to consumer protection are derived from the law merchant.

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Definitions:

Performance Rating

An assessment of an individual's or organization's performance, often compared against predetermined standards or objectives.

Time Standard

A benchmark or reference point for the expected time required to complete a task, often used in manufacturing and productivity analysis.

Work Sampling

A statistical technique used to estimate the proportion of time spent by workers on various tasks, through random observations over a period.

Acceptable Error

The degree of deviation from a standard or accurate value that is considered tolerable or permissible in computations or measurements.