Merchantable Definition

mûrchənt-ə-bəl
adjective
Suitable for buying and selling; marketable.
American Heritage
Webster's New World
Of goods, that they are fit for sale.
Webster's New World Law

Fit for market; such as is usually sold in market, or such as will bring the ordinary price; as, merchantable wheat; sometimes, a technical designation for a particular kind or class.

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