/lɔ ˈmɜːrʧənt/ – Phrase
Definition: luật thương mại.
A more thorough explanation: The term “law merchant” refers to a body of customary rules and practices that have evolved over time to govern commercial transactions and trade between merchants. It is a set of principles and customs that are recognized and applied by merchants and traders in their business dealings. The law merchant is not a formal legal code but rather a system of rules that have been developed through common usage and acceptance within the business community.
Example: The law merchant governs international commercial transactions and provides guidelines for resolving disputes between parties from different countries.