Trade last

A trade last is the concept of one person relaying a compliment overheard to another person, but only after the second person is able to provide the reciprocal. Often shortened as TL.

Origin

Although the exact origins are unknown, it is widely suspected to have been a way for families to relay good wishes and compliments received about their children. It has roots in Louisiana, however it is practiced across much of the South.

Example

you might say: ‘Do I ever have a trade-last for you! (Insert your stupid, boring story here.) So, anyway, Anne said the other day that she thinks you seem like a nice person.’ I can guarantee you that if you have formatted your story in this way, I have listened with rapt attention to every word. [ [http://accismus.wordpress.com/2008/01/14/am-i-a-poor-listener-or-should-you-just-shut-up-a-primer-for-party-conversation/#comments Am I a Poor Listener, or Should You Just Shut Up?: A Primer for Party Conversation « Accismus ] ]

Rules

Variations of these rules seem to vary depending on the region, however the following are the most generally accepted.
* To receive a TL, you must provide the other person with one first
* You MAY NOT solicit a compliment from someone else to fulfill a TL
* You can use an IOU to receive a TL early if both parties agree, however it generally should not be used for more than one TL at a time.
* A compliment can only be used once

Notes and references

* http://dictionary.reference.com/browse/trade%20last
* http://www.wordwebonline.com/en/TRADELAST