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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 ?
Moreover, it is highly doubtful that a digital object requiring an extremely complex infrastructure, such as the internet, could ever develop in a pure barter economy, where the division of labor is almost non-existent.
So assume bitcoin has arisen, de novo, from a pure barter economy.
Again the results regarding market access are similar to those in a barter economy (see Ju and Krishna 2000).
m] = [delta] = 0 in Equation 14, the second term on the RHS vanishes, and we obtain the result in KR, namely, that in a barter economy a proportional reduction in tariffs leads to a higher increase in welfare than a proportional coordinated tariff-tax reform that keeps consumer prices unchanged.
We apply this body of theory to money-using economies such as our own because we believe that for many problems the fact that money is used in attaining equilibrium can be abstracted from, or that the theoretical barter economy is a tractable, idealized model which approximates well (is well-approximated by) the actual monetary economy.
However, in Li [1998] I show in a pure barter economy that, compared to the equilibria with trustworthy middlemen, equilibria with dishonest middlemen exists when the private information problem is more severe.
consists in continuing to model a barter economy as if it functioned in exchange like a monetary one.
Consider first the special case of a barter economy where [[Phi].
The problem of double coincidence of wants caused by the lack of a commonly accepted medium of exchange is one of the central problems of a barter economy.
The downside for him is that from next month he will have no cash and he will need to assess how to cope with the new barter economy.
A lucrative barter economy hinges on fluid buying and selling," Edelhart said.
We looked at it, but BXI has much stronger currency and significantly more clients and a much better reputation in the barter economy than ITEX," said BXI President Saul N.