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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 mission of the top down business process team, which came to be known as the top down team (TDT) was to:
Appian is a leading provider of business process management (BPM) technology that helps organizations design, manage, and optimize their business processes.
The survey results highlight a noteworthy trend--the driving force behind business process outsourcing demand is shifting from a financial approach to a more strategic approach.
The process modeling view is Business Process Modeling Notation (BPMN) -based, and gives more sophisticated business analysts or IT users the ability to model detailed flow, business rules and events.
TeamWorks includes a rich, cohesive Eclipse-based modeling environment for building all aspects of a business process, a highly collaborative web-based work portal for process participants, and provides industry-leading optimization technologies for analyzing and improving business processes.
Building upon the company's long-term leadership in system-to-system business process management, webMethods BPMS' breakthrough performance and innovative new features establish a new standard for business process management suites.
With the ARIS Platform, IDS Scheer is the leading provider of solutions for business process excellence.
Mark Toon, President and CEO of EquaTerra, said, "The trend toward utilizing a complex blend of outsourcing, offshoring and internal shared services creates an increasing requirement for end-to-end business process performance monitoring.
TeamWorks is a unique BPM platform to complement our risk and customer value Business Process Rules solution Guardean[TM], giving us the ability to offer customers a standard-based, high-performance business process solution that is robust, flexible, scalable and with a guarantee and proven ROI.
OpenConnect's valueNow(SM) method is based on automated business process discovery, which quickly provides a detailed process model allowing short, targeted business process improvement initiatives.
Some believe BPM is just another area of business process re-engineering; others believe it is about standardizing business processes.
IDS Scheer, the leading provider of solutions for business process excellence, today expanded its flagship and award-winning ARIS Platform with major enhancements designed for business process excellence.

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