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The Collaborative International Dictionary of English v.0.48:

Bandy \Ban"dy\, v. t. [imp. & p. p. Bandied (b[a^]n"d[-e]d); p. pr. & vb. n. Bandying.] 1. To beat to and fro, as a ball in playing at bandy. [1913 Webster] Like tennis balls bandied and struck upon us . . . by rackets from without. --Cudworth. [1913 Webster] 2. To give and receive reciprocally; to exchange. "To bandy hasty words." --Shak. [1913 Webster] 3. To toss about, as from person to person; to circulate freely in a light manner; -- of ideas, facts, rumors, etc. [1913 Webster] Let not obvious and known truth be bandied about in a disputation. --I. Watts. [1913 Webster]