Merchants can be of two types:
A merchant class characterizes many pre-modern societies. Its status can range from high (even achieving titles like that of merchant prince or nabob) to low, such as in Chinese culture, due to the soiling capabilities of profiting from "mere" trade, rather than from the labor of others reflected in agricultural produce, craftsmanship, and tribute.
In the US, "merchant" is defined (under the Uniform Commercial Code) as any person while engaged in a business or profession or a seller who deals regularly in the type of goods sold. Under the common law and the Uniform Commercial Code in the United States, merchants are held to a higher standard in the selling of products than those who are not engaged in the sale of goods as a profession. For example, when a merchant sells something, he or she is deemed to give an implied warranty of merchantability, guaranteeing that the product is fit to be sold, even if there is nothing in writing to this effect. The UCC also contains a "merchant's confirmation" exception to the Statute of Frauds.