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 other benefit received is that the system centrally controls the customer and transaction files.
How many bank directors are aware that in many cases financial transaction files are sitting in clear text on application servers?
That software lets you export our transaction files in a variety of formats.
No copies existed anywhere, either within the system or in the back up transaction files.
Simply explained, this company offers a service where it consolidates the information from stores' POS transaction files and the company's data warehouse.
Sy Levine (Public Forum, March 26) said that Whitewater transaction files, legally required to be kept, somehow cannot be found until months later, and evidence supporting Katherine Willey's recent attempts at employment with the support of the White House are quite easily recovered and presented to the media.
Although other types of files are sometimes necessary, the basic concept of master and transaction files is common to all applications.
The circulation transaction format defined by this standard identifies the data elements and their format which may be contained in any set of circulation transaction files and which are suitable for exchange between library systems.

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