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 proposed Executive Order creating the Barter Trade Facilitation Center is currently being subjected to a series of consultations organized by the Department of Trade and Industry (DTI) and supported by MinDA.
Trade must go on, but it should be trade and not barter trade," he added.
He noted that he has proposed the barter trade during his ongoing visit to Tehran, and said, "I hope we reach an agreement in the near future in this regard.
Keemhar Jay Sakkalahul and members of the provincial board paid a courtesy call on Philippine embassy officials in Kuala Lumpur following earlier news reports that the Sabah police, blaming the spate of kidnapping incidents in Sabah on the barter trade between the state's east coast communities and southern Philippine residents, suggested its ban.
The Finance Minister said that during the Prime Minister's visit to Iran, both the sides had reaffirmed their commitment that while remaining within the ambit of UN sanctions, mutual trade and cooperation will be enhanced with barter trade and commodities exchange mechanism.
He feared that Pakistan-Iran barter trade deal could be delayed, as Iran had still not determined the urea price, besides failed to maintain effective co-ordination with Pakistan in this regard.
In the meetings at the presidency and prime minister's house, the two sides discussed ways of enhancing bilateral trade, including proposals for currency swap, barter trade, removing tariff and non-tariff barriers and improved border coordination for facilitating businessmen.
If they really want to have barter trade with Indonesia and ask us to do so, then we have to study it first," Wirjawan told reporters, adding that if any barter trade was discussed, gas would be preferable to oil.
The President proposed greater barter trade between the two countries and
Money was originally invented to fix the gaps in the barter trade.
Thailand suggested adoption of a barter trade system, but that will have to be further discussed and negotiated in detail, Yongyuth said.
The upgrading will take about 30 months and the Israeli government has agreed to accept 30% of payment in the form of barter trade arrangements, said the official, speaking on the condition of anonymity.