barter

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barter:

see exchangeexchange,
mutual transfer of goods, money, services, or their equivalents; also the marketplace where such transfer occurs, such as a stock exchange or a commodity exchange (see commodity market).
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Barter

 

in civil law, one of the forms of contract whereby the parties exchange property for other property. After the barter contract is executed, each of the parties loses the right of ownership to the property transferred and acquires that right to the property received. The similarity between the barter contract, which involves the compensated transfer of ownership of property, and the contract of sale and purchase means that many of the rules relating to the contract of sale and purchase can be applied to the barter contract (a procedure established in Soviet legislation).

Barter originated as a primitive form of commodity exchange but was supplanted by sale and purchase and has generally become insignificant. Under Soviet law the barter contract usually is concluded between citizens, but it may also be made between cooperative and other public organizations. A barter contract involving state organizations may be concluded in cases specifically envisioned by the laws of the USSR and the Union republics.

barter

trade by the exchange of goods
References in periodicals archive ?
A barter trade zone will allow Mindanao businessmen to trade with neighboring islands and sell imported items within the region without tariff duties.
We have advised that barter trade should be discontinued.
The barter trade should be totally done away with and only then people from both the sides would be benefited and the CBM will be meaningful," added Abdullah.
So Malaysia is not going to do barter trades for the time being," said the source, who had direct knowledge of the matter.
of Malaysia and Global Oil and Commodities entered into a barter trade pact to exchange $50 million worth of Malaysian palm oil for cotton yarn, rice, fruit and other commodities and services from Pakistan.
In December, Russian Minister of Economic Development Aleksey Valentinovich Ulyukayev announced that his country had proposed a framework for barter trade with Iran.
Officials of Basilan province called on the Philippine embassy in Kuala Lumpur to air their concerns over Malaysia's proposed ban on the historical barter trade between Sabah and Mindanao.
He also informed that Iran has recently lifted ban on mango import from Pakistan and the gesture has set the pitch for enhanced barter trade.
We just agreed on barter trade of goods in relation to electricity supplies," Behzad said.
The barter trade deal between Iran and Pakistan is yet to be finalised as Tehran has not yet to send agriculture experts to check wheat quality despite repeated requests.
Islamabad -- A barter trade deal between Iran and Pakistan still seems to be too far away, after Tehran expressed its unwillingness to accept Pakistani wheat containing karnal bunt or Tilletia Indica.
He, however, stated that the existing system of barter trade is creating confusion.