Transaction, includes a decree, as a decree may, under certain circumstances create the relationship of lender and borrower, Radha Kishen Chamria v. Keshardeo Chamria, AIR 1954 Cal 105: (1953) 92 Cal LJ 197.
Transaction, is a group of acts so connected together as to be referred to by a single legal name as a crime, a contract, a wrong or any other subject of inquiry which may be in issue, A.N. Mukerji v. State, AIR 1969 All 489: 1969 Cr LJ 1203.
Transaction, is something already done and com-pleted; a 'proceeding' either something which is now going on, or if ended, is still contemplated with reference to its progress on successive stages. A transaction in the ordinary sense of the words, means some business or dealing which is carried on, or transacted between two or more persons. A transaction is something which has been concluded between persons by a cross or reciprocal action, as it were, Channoo Mehta v. Jang Bhadur Singh, AIR 1957 Pat 293: 1956 BLJR 197.
Means 'carrying through' and suggests not necessarily proximity of time - so much as continuity of action and purpose, Gujja Lall v. Fatteh Lall, 1881 ILR 6 Cal 171.
Means the act or an instance of conducting business or other dealings, Black's Law Dictionary, 7th Edn., p. 1503.
Means to carry through, accomplish, execute, do or to carry on. It cannot be read narrowly to mean as synonymous to the word 'contract'. In fact, in one contract there may be many business transactions, Baldev Kumar v. Managing Director, AIR 1997 MP 147.
Transaction, should be an act which is bilateral or multilateral in character and not a mere unilateral action which is all that occurs when a coparcener throws his self-acquisitions into the hotchpotch of Joint Family, P.K. Subramania Iyer v. C.G.T., Kerala, AIR 1968 Ker 190.
Transaction, the word 'transaction' in s. 47 refers not merely to commercial transaction of purchase and sale but would include also all other matters relating to the affairs of the partnership. The completion of a transaction would cover also the taking of necessary steps in connection with the adjudication of a dispute to which a firm before its dissolution is a party, Saligram Ruplal Khanna v. Kanwar Rajnath, AIR 1974 SC 1094 (1104): (1974) 2 SCC 642: (1975) 1 SCR 358. (Partnership Act, 1932, s. 47)
Means, (i) any contract, whether for sale, purchase, exchange or any other purpose, or (ii) any assessment of royalty, toll, duty or other dues, or (iii) the assessment of any work done, wages due or
services rendered. [Standards of Weights and Measures Act, 1976 (60 of 1976), s. 2(z)]
1. The act or on instance of conducting business or other dealing 2. An agreement that is intended is which they make reciprocal concession, Black's Law Dictionary, 7th Edn.
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