In regards to passing equipment, the rulebook states that "If the receiving character does not have enough open equipment slots to receive these equipment tokens, the character may give equipment to the active character." It seems strange that a two-way exchange of equipment is only possible if the initial receiver's inventory is full. Is it implied that the exchange can always be two-way? If the wording is correct and the receiver can only give back equipment when their inventory is full, are they limited to only giving equipment until their inventory is not "overflowing," or can they give as much as they want?

From the way the rule is worded, I think the character recieving the equipment can only pass equipment if his inventory is full. I also think he can only pass equipment until he has enough room to store the equipment he's being passed, but the rules text isn't really clear on that. I agree with you that it's quite a strange rule. Maybe you should just ask FFG and get an official answer on this point. But be warned: They still haven't answered my last two questions!

I think it's like search in a create, or leave/take objects on the ground (in your/adjacent cirlce): the character who acts may leave/take/exchange his equipment from the ground, creates and allied characters.