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exchange

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exchange


  4  definitions  found 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Exchange  \Ex*change"\,  n.  [OE.  eschange,  eschaunge,  OF 
  eschange,  fr  eschangier  F.  ['e]changer,  to  exchange;  pref. 
  ex-  out  +  F.  changer.  See  {Change},  and  cf  {Excamb}.] 
  1.  The  act  of  giving  or  taking  one  thing  in  return  for 
  another  which  is  regarded  as  an  equivalent;  as  an 
  exchange  of  cattle  for  grain. 
 
  2.  The  act  of  substituting  one  thing  in  the  place  of  another; 
  as  an  exchange  of  grief  for  joy,  or  of  a  scepter  for  a 
  sword,  and  the  like  also  the  act  of  giving  and  receiving 
  reciprocally;  as  an  exchange  of  civilities  or  views. 
 
  3.  The  thing  given  or  received  in  return;  esp.,  a  publication 
  exchanged  for  another.  --Shak. 
 
  4.  (Com.)  The  process  of  setting  accounts  or  debts  between 
  parties  residing  at  a  distance  from  each  other  without 
  the  intervention  of  money,  by  exchanging  orders  or  drafts, 
  called  bills  of  exchange.  These  may  be  drawn  in  one 
  country  and  payable  in  another,  in  which  case  they  are 
  called  foreign  bills;  or  they  may  be  drawn  and  made 
  payable  in  the  same  country,  in  which  case  they  are  called 
  inland  bills.  The  term  bill  of  exchange  is  often 
  abbreviated  into  exchange;  as  to  buy  or  sell  exchange. 
 
  Note:  A  in  London  is  creditor  to  B  in  New  York,  and  C  in 
  London  owes  D  in  New  York  a  like  sum.  A  in  London  draws 
  a  bill  of  exchange  on  B  in  New  York;  C  in  London 
  purchases  the  bill,  by  which  A  receives  his  debt  due 
  from  B  in  New  York.  C  transmits  the  bill  to  D  in  New 
  York,  who  receives  the  amount  from  B. 
 
  5.  (Law)  A  mutual  grant  of  equal  interests,  the  one  in 
  consideration  of  the  other  Estates  exchanged  must  be 
  equal  in  quantity,  as  fee  simple  for  fee  simple. 
  --Blackstone. 
 
  6.  The  place  where  the  merchants,  brokers,  and  bankers  of  a 
  city  meet  at  certain  hours,  to  transact  business.  In  this 
  sense  often  contracted  to  'Change. 
 
  {Arbitration  of  exchange}.  See  under  {Arbitration}. 
 
  {Bill  of  exchange}.  See  under  {Bill}. 
 
  {Exchange  broker}.  See  under  {Broker}. 
 
  {Par  of  exchange},  the  established  value  of  the  coin  or 
  standard  of  value  of  one  country  when  expressed  in  the 
  coin  or  standard  of  another,  as  the  value  of  the  pound 
  sterling  in  the  currency  of  France  or  the  United  States. 
  The  par  of  exchange  rarely  varies,  and  serves  as  a  measure 
  for  the  rise  and  fall  of  exchange  that  is  affected  by  the 
  demand  and  supply.  Exchange  is  at  par  when  for  example,  a 
  bill  in  New  York,  for  the  payment  of  one  hundred  pounds 
  sterling  in  London,  can  be  purchased  for  the  sum.  Exchange 
  is  in  favor  of  a  place  when  it  can  be  purchased  there  at 
  or  above  par. 
 
  {Telephone  exchange},  a  central  office  in  which  the  wires  of 
  any  two  telephones  or  telephone  stations  may  be  connected 
  to  permit  conversation. 
 
  Syn:  Barter;  dealing;  trade  traffic;  interchange. 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Exchange  \Ex*change"\,  v.  i. 
  To  be  changed  or  received  in  exchange  for  to  pass  in 
  exchange;  as  dollar  exchanges  for  ten  dimes. 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Exchange  \Ex*change"\,  v.  t.  [imp.  &  p.  p.  {Exchanged};  p.  pr  & 
  vb  n.  {Exchanging}.]  [Cf.OF.  eschangier  F.  ['e]changer.  See 
  {Exchange},  n.] 
  1.  To  part  with  give  or  transfer  to  another  in  consideration 
  of  something  received  as  an  equivalent;  --  usually 
  followed  by  for  before  the  thing  received. 
 
  Exchange  his  sheep  for  shells,  or  wool  for  a 
  sparking  pebble  or  a  diamond.  --Locke. 
 
  2.  To  part  with  for  a  substitute;  to  lay  aside,  quit  or 
  resign  (something  being  received  in  place  of  the  thing 
  parted  with);  as  to  exchange  a  palace  for  cell. 
 
  And  death  for  life  exchanged  foolishly.  --Spenser. 
 
  To  shift  his  being  Is  to  exchange  one  misery  with 
  another.  --Shak. 
 
  3.  To  give  and  receive  reciprocally,  as  things  of  the  same 
  kind  to  barter;  to  swap;  as  to  exchange  horses  with  a 
  neighbor;  to  exchange  houses  or  hats. 
 
  Exchange  forgiveness  with  me  noble  Hamlet.  --Shak. 
 
  Syn:  To  barter;  change;  commute;  interchange;  bargain;  truck; 
  swap;  traffic. 
 
  From  WordNet  r  1.6  [wn]: 
 
  exchange 
  n  1:  chemical  process  in  which  one  atom  or  ion  or  group  changes 
  places  with  another 
  2:  a  mutual  expression  of  views  (especially  an  unpleasant  one); 
  "they  had  a  bitter  exchange" 
  3:  the  act  of  exchanging  one  thing  for  another;  "the  devil 
  promised  Adam  immortality  in  exchange  for  his 
  disobedience" 
  4:  the  act  of  giving  something  in  return  for  something 
  received;  "deductible  losses  on  sales  or  exchanges  of 
  property  are  allowable" 
  5:  a  telecommunications  facility  [syn:  {central},  {telephone 
  exchange}] 
  6:  a  place  for  buying  and  selling;  open  only  to  members 
  7:  reciprocal  transfer  of  equivalent  sums  of  money  especially 
  the  currencies  of  different  countries:  "he  earns  his 
  living  from  the  interchange  of  currency"  [syn:  {interchange}] 
  8:  the  act  of  putting  one  one  thing  or  person  in  the  place  of 
  another:  "he  sent  Smith  in  for  Jones  but  the  substitution 
  came  too  late  to  help  [syn:  {substitution}] 
  v  1:  give  to  and  receive  from  one  another;  "Would  you  change 
  places  with  me?"  "We  have  been  exchanging  letters  for  a 
  year"  [syn:  {change},  {interchange}] 
  2:  exchange  or  replace  with  another,  usually  of  the  same  kind 
  or  category;  "Could  you  convert  my  dollars  into  pounds?" 
  "He  changed  his  name"  [syn:  {change},  {commute},  {convert}] 
  3:  change  over  change  around  or  switch  over  [syn:  {switch 
  over},  {switch}] 
  4:  exchange  prisoners,  employees,  etc 
  5:  exchange  a  penalty  for  a  less  severe  one  [syn:  {commute},  {convert}] 




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