/lɔ ʌv ðə ˈsteɪpəl/ – Phrase
Definition: xch mercantile law.
A more thorough explanation: The “law of the staple” refers to a historical legal concept that regulated the trading of certain goods in designated staple towns. Under this law, merchants were required to bring their goods to specific staple towns to be inspected, taxed, and sold. This regulation aimed to control and promote trade in staple goods, such as wool, by concentrating commerce in designated locations.
Example: The law of the staple requires merchants to bring certain goods to designated market towns for inspection and sale.