Exchange
A Law Dictionary, Adapted to the Constitution and Laws of the United States · John Bouvier · 1839
A Law Dictionary, Adapted to the Constitution and Laws of the United States
comm. law. This word has several significations.
1.
Exchange is a negociation by which one person transfers to another, funds which he has in a certain place, either at a price agreed upon, or which is fixed by commercial usage. This transfer is made by sents such funds, and is well known by the name of bill of exchange.
2.
The price which is paid in order to obtain such transfer, is also known among merchants by the name of exchange; as, exchange on England is five per cent.
3.
Barter, (q. v.) or the transfer of goods and chattels for other goods and chattels, is also known by the name of exchange, though the term barter is more commonly used. Vide the articles Bills of Exchange; Damages on Bills of Exchange, and Re-exchange.
Also Civ
Code of Lo. art.
2630.