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
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.