trans·ac·tion /tran-'zak-shən, -'sak-/ n
1: something transacted; esp: an exchange or transfer of goods, services, or funds
2 a: an act, process, or instance of transacting
b: an action or activity involving two parties or things that reciprocally affect or influence each other
3 in the civil law of Louisiana: an onerous contract that is intended by the parties to prevent or end actual or possible litigation and in which they make reciprocal concessions compare accord, satisfaction

Merriam-Webster’s Dictionary of Law. . 1996.

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

Burton's Legal Thesaurus. . 2006

One instance of conducting business, such as buying or selling an item; an agreement or act involving at least two people that alters their legal rights in relation to one another.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

An event associated with the transfer of an amount of money (debit or credit) in the operation of a business.
Category: Back Taxes & Tax Debt
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Personal Finance & Retirement → Taxes → Personal Income Taxes
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.

1 An act of carrying out some form of business between two persons.
2 A business agreement or exchange.
3 Any activity in which two or more persons are involved.
@ closed transaction
A transaction that is complete, so that the actual realized gain may be calculated for tax purposes.
=>> transaction.
@ open transaction
A transaction in which all the events have not yet occurred, and so the computation of taxes on that transaction is not yet possible.
=>> transaction.
@ sham transaction
A transaction that will be disregarded for tax purposes because it has no real substance.
=>> transaction.

Webster's New World Law Dictionary. . 2000.

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Look at other dictionaries:

  • transaction — [ trɑ̃zaksjɔ̃ ] n. f. • 1281; lat. transactio, de transigere → transiger 1 ♦ Dr. Acte par lequel on transige. Contrat par lequel les contractants terminent ou préviennent une contestation en renonçant chacun à une partie de leurs prétentions. ⇒… …   Encyclopédie Universelle

  • Transaction — Trans*ac tion, n. [L. transactio, fr. transigere, transactum, to drive through, carry through, accomplish, transact; trans across, over + agere to drive; cf. F. transaction. See {Act}, {Agent}.] 1. The doing or performing of any business;… …   The Collaborative International Dictionary of English

  • transaction — Transaction. subst. f. v. Acte par lequel on transige sur un differend. Passer une transaction. faire homologuer une transaction. le troisiéme article de la transaction porte que. &c …   Dictionnaire de l'Académie française

  • transaction — (n.) mid 15c., the adjustment of a dispute, a negotiated agreement, from M.Fr. transaction, from L. transactionem (nom. transactio) an agreement, accomplishment, from pp. stem of transigere accomplish, drive or carry through, from trans through + …   Etymology dictionary

  • Transaction — (v. lat.), 1) so v.w. Vergleicht 2) so v.w. Verhandlung, bes. solche, welche einem abzuschließenden Vergleiche vorausgehen. Daher Transactor, Vergleichsstifter, Schiedsmann, u. Transigiren, übereinkommen, sich im Guten vergleichen …   Pierer's Universal-Lexikon

  • transaction — [n] business dealing; undertaking act, action, activity, affair, agreement, bargain, bond, business, buying, compact, contract, convention, coup, covenant, deal, deed, disposal, doings*, enterprise, event, execution, goings on*, happening,… …   New thesaurus

  • transaction — ► NOUN 1) an instance of buying or selling. 2) the action of conducting business. 3) an exchange or interaction between people. DERIVATIVES transactional adjective. ORIGIN Latin, from transigere drive through …   English terms dictionary

  • transaction — [tran zak′shən, transak′shən] n. [L transactio] 1. a transacting or being transacted 2. something transacted; specif., a) a business deal or agreement b) [pl.] a record of the proceedings of a society, convention, etc., esp. a published one… …   English World dictionary

  • transaction — The delivery of a security by a seller and its acceptance by the buyer. Bloomberg Financial Dictionary This term is context dependent. From an operational standpoint, it refers to a matched trade, but it has a different meaning for clearing… …   Financial and business terms

  • Transaction — A transaction is an agreement, communication, or movement carried out between separate entities or objects, often involving the exchange of items of value, such as information, goods, services and money.*Financial transaction *Database… …   Wikipedia

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