(M682) The oldest form of business in Asiatic life is _commenda_: the commendatist gives a fixed sum of money to the agent with which he does his business. The former takes a fixed share of the profit, say half, in addition to the original sum invested. The agent usually secures guarantees for the capital. This method of carrying on business is customary in the early times. The Code regulates the relations between principal and agent. The former is called _tamkaru_, usually rendered “merchant,” and the latter is _šamallû_, often rendered “apprentice.” The merchant is, however, a trader in many ways, and in the Code he is usually named, where we expect lender or creditor. Hence there is little doubt that his name is derived from _magâru_, or _makâru_, with a meaning “to traffic” (?). He seems to have been a monied man, who was ready to make to cultivators advances on their crops—a practice always liable to great abuses, which the Code aims to check. (M683) The merchant principal also furnished goods, among which are mentioned corn, sesame, oil, wool, wine, and manufactured articles. The agent did the trading, and regularly rendered his accounts to his principal. He travelled from place to place to find a market for his goods, or to make purchases, which could be profitably sold at home. The principal paid no salary, but received again his capital, or the value of his goods, and an interest or share of the profit. It is clear that the merchant also moved from place to place, and there is evidence that many of them were foreigners. The travelling agents with their goods formed the caravan.