Transaction
Legal definition for Indian law research
Definition
transaction
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
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.