transaction

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transaction

noun accomplishment, achievement, act, action, activity, administration, adventure, affair, commission, completion, consummation, deal, deed, direction, effectuation, enactment, enterprise, execution, exercise, exploit, management, measure, negotium, operation, performance, proceeding, process, purchase, sale, undertaking
Associated concepts: arms length transaction, transacting business, transactional immunity
Foreign phrases: Res inter alios judicatae nullum aliis praejudicium faciunt.Transactions between strangers ought not to injure those who are not parties to them.
See also: act, agreement, business, commerce, commission, contract, course, deal, event, exchange, interchange, occurrence, operation, proceeding, process, sale, trade, treatment, undertaking

TRANSACTION, contracts, civil law. An agreement between two or more persons, who for the purpose of preventing or putting an end to a law suit, adjust their differences by mutual consent, in the manner which they agree on; in Louisiana this contract must be reduced to writing. Civil Code of Louis, 3038.
     2. Transactions regulate only the differences which appear to be clearly comprehended in them by the intentions of the parties, whether they be explained in a general or particular manner, unless it be the necessary consequence of what is expressed; and they do not extend to differences which the parties, never intended to include in them. Id. 3040.
     3. To transact, a man must have the capacity to dispose of the things included in the transaction. Id. 3039; 1 Domat, Lois Civiles, liv. 1, t. 13, s. 1; Dig. lib. 2, t. 15, l. 1; Code lib. 2, t. 4, 1. 41. In the common law this is called a compromise. (q.v.)

References in periodicals archive ?
People who engage in transactional sex are those who report that they pay for sex, regularly accept payment for sex, or do both," the report explained.
Euclid Transactional is a managing general agency specializing in the underwriting of representations & warranties, tax liability, contingent liability and other transitional insurance coverages.
Transactional sex, defined as engagement in sexual activity in exchange for material gifts, has been cited by several studies from sub-Saharan Africa as a risk factor for HIV and other STIs (8,10-12).
Five major concepts and terms are related to the theory of transactional distance and have been defined as follows.
A transactional database TDB is a set of transactions.
Transactional leadership is generally based on exchanges between leaders and followers with an emphasis on a cost-benefit exchange process (Burns, 1978).
Traditional validation testing is typically used to assess the operating effectiveness of controls at the process and transactional levels; the type and frequency of a control activity drives the extent of testing CPAs perform.
Sub-Second Latency--GoldenGate provides one of the fastestsolutions for moving large volumes of transactional data, withminimal impact to online systems.
In Latin America, our goal is to be the transactional banking leaders, by offering products and services with a high added value to our clients.
Our transactional engine has already been tested and proven by millions of users in the Open Source community to be an extremely reliable back-end that offers many of the features necessary to develop heavy-duty applications," said Marten Mickos, MySQL CEO.
System security and continuity, another top concern, can impact both analytical and transactional levels.
In sum, the court found that the UPS/NUF/OPL transactional arrangement was a prearranged plan designed to avoid Federal income tax on UPS's EVC income.

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