barter

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Barter

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.

barter

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

barter

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 ?
A business can pay bartered goods or services as a bonus or as part of a compensation package to employees, partners and contractors.
Because a bartered transaction is essentially two transactions--the provision of a product or service in exchange for another product or service--the barter exchange underscores this distinction by providing a marketplace for the two transactions to be consummated independently of each other.
As a result of this division provided by the barter exchange, when a member provides a bartered product or performs a bartered service, its fair market value is recorded by the exchange in the member's account in terms of barter or trade dollars, and taxable income is recognized, as in a normal sale.
The use of barter middlemen appears to be common among Fortune 500 companies, as 42% of the respondents who bartered had used intermediaries.
The annual amount of bartered goods ranged from less than $150,000 to over $15 million.
One health-and-beauty-aids company bartered 68,000 cases of product, 45 different SKUs, with a wholesale value of $12 million.
Transactions are valued in barter points, which are assigned to every good or service bartered by the companies involved.