adjective Chiefly Law.
marketable: merchantable war-surplus goods.

1475–85; earlier marchandabull. See merchant, -able

merchantableness, noun
unmerchantable, adjective Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
merchantable (ˈmɜːtʃəntəbəl)
suitable for trading

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
Trees require many years of growth to become merchantable timber products.
However, although there may be significant damage, the timber will likely
  remain valuable and merchantable over the next year.
Count up to two established seedlings, or count one advanced reproduction,
  sapling or merchantable tree per plot.
In later years, portable sawmills re-worked the area, cutting practically all
  of the merchantable timber.
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