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.
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            Like tennis balls bandied and struck upon us . . .
            by rackets from without.              --Cudworth.
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   2. To give and receive reciprocally; to exchange. "To bandy
      hasty words." --Shak.
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   3. To toss about, as from person to person; to circulate
      freely in a light manner; -- of ideas, facts, rumors, etc.
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            Let not obvious and known truth be bandied about in
            a disputation.                        --I. Watts.
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