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 ?
Barter exchanges have their own unit of exchange, usually known as barter or trade dollars.
There is, however, an important distinction between the tax treatments of direct barter trades and those conducted on exchanges.
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.
Similarly--due again to the use of trade or barter dollars, the presence of a third-party record keeper, and the existence of a marketplace--exchange bartering recognizes the deduction of the fair market value of the products or services received when purchased, whereas direct bartering recognizes the deduction of the fair market value of the products or services purchased when provided.
Accountants can advise clients to use barter to achieve specific business goals, including
Because barter purchases represent lower out-of-pocket cash costs, trade dollars often can be earned with little increase in overhead and without advertising or marketing expense.
A barter network keeps clients informed of new products and services available for barter.
A further advantage of barter arises directly from the makeup of barter exchange networks.