Manuscript produced in Scotland, primarily for the use of converting the prices of commodities between Scotland and the Low Countries. The commodities listed include wool, skins, hides, cloth, canvas, iron, wax and wine. The monetary units used are a mixture of Flemish and English money. The volume also contains a small portion of religious material.

Hanham believes that the commercial part of the volume is likely to be a copy of a work which was possibly originally composed in 1390 at the earliest and 1434 at the latest due to monetary units in use. It is probable that this manuscript was written sometime between 1400 and 1440.

The contents of the manuscript are as follows:

Notes and ownership inscriptions. On folio 2r a title which reads: 'Treatise Scots Merchandise'. Folios 1r-2v.

Prayers with a short introduction, in Latin. Written in a neat minuscule cursive hand, which Hanham has described as more 'clerkly' in appearance. Folios 3r-5r.

'Treaties Scots Merchandise', written in a different miniscule cursive hand and in Scots. Consisting of observations on the weights and measure by which various goods were bought and sold in the Low countries, and tables for reckoning the cost of a single unit according to the price quoted in bulk. Some of the calculations in the manuscript are prefaced by scribal comments and explanations. There are no arithmetical workings or alterations, apart from occasional erasures, and there are mistakes which are clearly copyist's errors. On folio 8r there is a full page plain ink drawing, probably depicting the Virgin Mary and Child. The text resumes on folio 8v. Folios 5r-34r.

Inscriptions and pentrials. Folios 34v-35v.

Folios 1-2v and 34v-35v were originally left blank, but have since been used for notes and pentrials in later hands. These include sums of money, notes about the sale of skins, three devices which seem to represent tallies with groups of five strokes, and the start of a mock deed of sale in the same of 'Johannis Na man'.

On folio 2v there is a rhymed declaration of ownership, as well as what appears to be a joke letter in attempted verse which reads: 'Spowisse I commend me to ȝow and I wald at ȝe dwyd weyll / I ahir coft mony yngannis bot I want ane creyll / Prenspylle owt ower all thyng / rasaif fray this barer v dry herein / weyll kneyt on ane streyng. Jn M.'

The volume is not decorated, except for rubrication and initials in red on folios 3r-4r, with the initial 'D' on 4v left unfinished. There is lining and ruling inconsistently throughout the volume, most evident in the section containing the religious material.