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Related to Barter economy: Monetary economy


The exchange of goods or services without the use of money as currency.

Barter is a contract wherein parties trade goods or commodities for other goods, as opposed to sale or exchange of goods for money. Barter is not applicable to contracts involving land, but solely to contracts relating to goods and services. For example, when a tenant exchanges the performance of various maintenance tasks around a house for free room and board, a barter has taken place.


verb bargain, buy and sell, deal, dicker, give and take, give in exchange, haggle, interchange, make exchanges, market, merces mutare, merchandise, peddle, rem pro re pacisci, rem re mutare, strike a bargain, swap, switch, trade, trade by exchange, trade off, traffic by exxhange, vend
See also: alienate, business, commerce, deal, dealings, dicker, exchange, handle, interchange, sell, trade


exchanging one thing for another. If there is money involved (a part exchange) then the transaction is probably one of sale. The position in the UK is that barter is now governed by the same kind of implied terms as a sale. See QUALITY, DESCRIPTION, TITLE.

BARTER. A contract by which the parties exchange goods for goods. To complete the contract the goods must be delivered, for without a delivery, the right of property is not changed.
     2. This contract differs from a sale in this, that barter is always of goods for goods, whereas a sale is an exchange of goods for money. In the former there never is a price fixed, in the latter a price is indispensable. All the differences which may be pointed out between these two contracts, are comprised in this; it is its necessary consequence. When the contract is an exchange of goods on one side, and on the other side the consideration is partly goods and partly money, the contract is not a barter, but a sale. See Price; Sale.
     3. If an insurance be made upon returns from a country where trade is carried on by barter, the valuation of the goods in return shall be made on the cost of those given in barter, adding all charges. Wesk. on Ins. 42. See 3 Camp. 351 Cowp. 818; 1 Dougl. 24, n.; 1 N. R. 151 Tropl. de l'Echange.

References in periodicals archive ?
m] = 0 we have a barter economy, where no cash is required for the purchase of a good, whereas when [[phi].
With the rise of extensive trade and later by industrialization, and a money rather than a barter economy, the ownership of property no longer provided wealth and income.
The authors trace a common thread in all these cultures, that at some point in the growth of a society a barter economy is no longer feasible and a currency must be created.
By focusing on the setting of the novel--that is, the Great Depression in the South--Rowe describes the barter economy that developed, the need for sharing food, and the importance of gift giving in the story.
Last week he held talks with a London-specialist about setting up an international currency exchange to sell 'boothos' on in a bid to create a global barter economy based on books.
His anarchist Swap Shop (1969), where exchange was based on a barter economy, teeters on the threshold between art and activism as a social sculpture that prefigures works by artists like Rirkrit Tiravanija and N55.
Because of high inflation, a weak currency and partly because of tradition, Uzbekistan has a cash or barter economy.
com for its development of the barter economy and Member Relations guidelines and practices.
In a barter economy, the goods that are traded in the interval from t to t + 1 must exist at time t.
In Li [1998] I show in a pure barter economy that under certain circumstances, middlemen emerge endogenously to ameliorate the lemons problem in the exchange of goods.