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 ?
Shafie said that in the past, barter trading made up some RM2 million or so in trade before the state put a stop to it in 2016 to curb cross border crime.
President Rodrigo Duterte issued Executive Order 64 in October last year for the revival of barter trading in Mindanao to promote the island's growth and development.
The barter trade in Mindanao was recently in operation after three years of stoppage.
Duterte told Mahathir that he was hoping for the institutionalization of the barter trade system in the south, saying it will help address poverty, conflict, and instability in the Bangsamoro region.
Realising the importance of barter trade between and Malaysia, President Rodrigo Duterte in October 2018 signed Executive Order No.
There will also be guidelines on registration or accreditation of qualified traders authorized to engage in barter within the barter port, including registration fees and facilitation of all documents to avail of the zero tariff benefits under the Association of Southeast Asian Nations (ASEAN) Trade in Goods Agreement (ATIGA).
The order also sought for the creation of MBC which will supervise, coordinate and harmonize policies, programs and activities on barter in Mindanao.
Immigration and Customs Enforcement's Homeland Security Investigations Task Force, went to meet Barter in Texas and then arrested him.
The Italian event now includes properties that accept barter all year round.
If you've shoveled someone's sidewalk or driveway and been handed a tray of still-warm, homemade chocolate chip cookies when you've finished, you've bartered. If you've repaired someone's mountain bike in exchange for an afternoon twice a month on said bicycle, you've practiced the barter system.
'So we-I have never really addressed it as barter but there's a possibility given the language barrier that they consider it as a barter but from our point of view it is not,' he said.
Speaking on the occasion, the Co-Founder Maarchaa.com Numan Aly gave the insights to the students about the economy and barter trade.