Part-Exchange Definition
Part-Exchange is an arrangement where one party agrees to accept another party’s unwanted item in return for something that the first party wants. This is often done when two people are trying to trade items of roughly equal value.
For example, let’s say that you have a bike that you no longer use and your friend has a skateboard that they don’t use. You could agree to part-exchange these items so that you both end up with something that you want.
