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 ?
The remainder of this paper is structured as follows: Section 2 presents a precise description of a possible business process definition; Section 3 presents and compares business process modelling languages, as identified through the literature study; Section 4 presents the evaluation of the use and usefulness of business rules integration into business process simulation; and Section 5 concludes this paper.
In response to some of these needs and challenges, a relatively small number of academic institutions such as Boston University, Duke University, Queensland University of Technology, Stevens Institute of Technology, Temple University, University of Houston, University of Illinois Springfield, University of Iowa, University of Minnesota, University of North Carolina Charlotte, and University of San Francisco have developed educational courses, training, and curricula in the business and process analysis area that some authors refer to as Business Process Management or similar titles such as Business Process Modeling, Enterprise Modeling, or Workflow Systems (Smith & Fingar, 2003).
The UC Strategies Experts were headed in the right direction when they defined unified communications as "communications integrated to optimize business processes." That is a fundamental perspective of the technology for making both person-to-person and process-to-person communication applications more interoperable and integrated.
Therefore, it should not come as a surprise, that business process renovation research demonstrated the critical role of information technologies in business process renovation (Broadbent et al.
In the report, the Global Business Process Management Platform-as-a-Service (BPM PaaS) Market has been analyzed through a segmental perspective.
Business Process As A Service Market , projects a standardized and in-depth study on the ongoing state of Market, providing basic industry insights such as definitions, classifications, supply chain, applications and industry cost structure.
'Imagine a start-up building a business process management system into its structure from the onset, such a business won't have issues when it comes to knowledge transfer and quality assurance and even maintaining and achieving customer satisfaction,' he stated.
Unlike traditional systems, Business Process Management offers advanced features for modeling and automating business flows in the organization.
* How well is a business process model reflecting the control-flow aspect of all the administrational, managerial and operational activities in the organization?
The alliance will offer business process outsourcing (BPO) services in 10 centers across the country.
Customer point of the menu GC is the key to the restaurant process Artifact class, the entire business process around the key GC class Artifact start work.
This product covers the latest trends in the business process outsourcing market, coupled with insight into the vendor landscape and market size in the business process outsourcing domain.

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