# Treaty

## Definition

Formal agreements or arrangements for exchange between parties, which Smith identifies as one of the three primary mechanisms (along with barter and purchase) through which individuals obtain mutual good offices in civilised society.

## Source Chapter

Book I, Chapter 2

## Context

Smith lists treaty, barter, and purchase as the means by which the greater part of mutual good offices are obtained, establishing the formal mechanisms of economic exchange.

## Economic Domain

Exchange

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