21.   Share-for-debenture exchanges can be more problematic.

22.   Now that traders no longer have to meet face to face, and can communicate by telephone or computer, the exchange is not so easy to identify.

23.   In the US, in contrast, exchanges are more orientated towards domestic retail business, and this encourages more extensive government supervision.

24.   The exchange itself is a limited company, with its own distinct legal identity, and enters a contract in its own right.

25.   Apart from natural justice principles, the exchange is free to establish its own disciplinary and arbitration procedures.

26.   Sometimes these are left blank until exchange of contracts is imminent.

27.   Whether the transaction is to be categorised as a sale or exchange is a question of contractual intention.

28.   For the Hebrew studies centre, this exchange of knowledge is also a pathway to better understanding between nations.

29.   Share exchanges are an increasingly popular alternative for investors to selling small holdings.

30.   The exchange of business cards is a very important part of the process of introduction in Japan.