Barter – this term in the Commercial Law refers to a procedure, which represents an exchange of goods between traders, without money involved in the exchange deal. I.e. the goods or items, given in exchange to the opposite trader, have the same or similar value for them, which fact gives a sense of the deal. In the society, barter deals are used when people want to give away something they own but don’t need anymore. In exchange for another item, which they want to get/acquire. Without spending money for it. For example, you have a second car and you don’t need it. So you exchange it with somebody for a motorbike that they own, but they don’t need too.

See also “Contract for exchange”

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