Thursday, June 3

Payment in Kind

   Payment in Kind: "When a good or service is used as payment, as opposed to cash"
      < http://www.investopedia.com/terms/p/paymentinkind.asp >

   When I was young I worked as a cleaner for my godfather.  One week he didn't
   have any cash to pay me, so he offered me a secondhand racer bike as payment.
   I accepted because I didn't have a bike at the time and wanted one.

   Here are some news items which also illustrate the concept ...

   1. "Firm repays loan with earthworms"
      < http://www.ananova.com/news/story/sm_783649.html >

   2. "Man paid off more than $600 in outstanding fines ... in ramen noodles"
      < http://www.kansascity.com/mld/kansascity/news/6103558.htm >

   3. "Man pays for petrol with nephew"
      < http://www.in-sourced.com/article/articleprint/960/-1/13/ >

   4. "Workers to be paid in reject carpets instead of cash"
      < http://www.ananova.com/news/story/sm_715631.html >

   5. "Workers of bankrupt firm paid off in combs"
      < http://www.ananova.com/news/story/sm_704232.html >

   6. "Textile firm offered to pay workers in pullovers"
      < http://www.ananova.com/news/story/sm_786888.html >

   7. "Cash-strapped abattoir pays workers in dead chickens"
      < http://www.ananova.com/news/story/sm_837761.html >

   8. "Mordovian teachers' salary again paid in most covertible currency"
      < http://english.pravda.ru/economics/2001/06/08/7362.html >
      "The biggest part of teachers' salary was paid with vodka"