Exchange And Transfer - Definition - Law Dictionary Home Dictionary Definition exchange-and-transfer

Definition :

Exchange and transfer, an exchange involves the transfer of property by one person to another and reciprocally the transfer of property by that other to the first person. There must be a mutual transfer of ownership of one thing for the ownership of another, CIT v. Rasiklal Maneklal, (1989) 2 SCC 454: AIR 1989 SC 1333: (1989) 2 SCR 179.