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.

References in periodicals archive ?
Last year, I received your commitment to suspend the Departments uranium barter because the Departments practices were illegal and harmful to our domestic uranium producers.
"I can't wait to get back on Barters Hill," said Bass.
| David Bass rides Barters Hill to victory in the Betfred 'Goals Galore' Challow Novices' Hurdle at Newbury last December
DON DEAL Barters Hill will go to Doncaster on Saturday
This literature review has sought to empower professionals with information relevant to the process of considering the acceptance of barters from clients.
Memorandum 200147032, issued by the IRS's National Office of Technical Advice on August 14, 2001, contradicts the above-quoted seeming denial of the tax deductibility of services received through an exchange or barter transaction:
Lassarte has the contrary opinion in the already cited number 25, and says that in Castile this tax is paid once the barter pact has been fulfilled, and even if the delivery is never carried out and the individuals rescind the contract by mutual agreement before the delivery is fulfilled.
Businesses are discovering that barter not only has financial advantages but it has marketing benefits as well.
1 countertrade: international barter (normally) between U.S.
Within a few months I bartered strawberries for foodstuffs, tailoring, and services such as small-equipment repair.
"Barter" refers to exchanging commodities, products, or services of equivalent value without using money.
Tim Mitchell, project manager of the Valley Trade Connection, a nonprofit barter network and local currency project in Massachusetts, says that spending locally, even when the money is regular greenbacks, has major regional benefits.