Legal Definitions - Statutum de Nova Custuma

Definition: Statutum de Nova Custuma was an English statute enacted in 1303 that established rules favoring certain foreign merchants. In exchange for paying customs duties, these merchants received extensive trading rights throughout England, the power to export their merchandise, the liberty to dwell where they pleased, and certain legal rights. It is also known as Carta Mercatoria.

Example: A merchant from France who paid customs duties could sell their goods in London and other English cities without any restrictions. They could also live wherever they wanted and had legal rights to protect their business interests.

Explanation: The example illustrates how the Statutum de Nova Custuma allowed foreign merchants to conduct business in England with greater freedom and protection. By paying customs duties, they gained access to extensive trading rights and legal protections that helped them succeed in the English market.