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transaction

noun

/trænˈsæk ʃən/

IPA:

Dictionary definition of transaction

An exchange or interaction between two or more parties that involves the transfer or exchange of goods, services, or information.
"She recorded every transaction meticulously in her financial ledger."

Detailed meaning of transaction

It can occur in various contexts, such as business, finance, and everyday life. Transactions are typically characterized by the parties involved, the items or services being exchanged, and the agreed-upon terms and conditions. They can take different forms, including monetary transactions involving the exchange of currency or digital payments, as well as non-monetary transactions involving the exchange of goods or services without the involvement of money. Transactions play a fundamental role in economic systems, as they facilitate the flow of resources, enable trade and commerce, and contribute to the functioning of markets and economies.

Example sentences containing transaction

1. The customer completed the transaction by swiping their credit card.
2. The real estate agent facilitated the transaction between the buyer and seller.
3. The transaction was completed smoothly, with no issues or delays.
4. He received a confirmation email after the successful transaction.
5. The company implemented a new software system to streamline their transaction process.
6. The transaction fee for the service was minimal, making it an affordable option.

History and etymology of transaction

The noun 'transaction' is derived from the verb 'transact,' which, in turn, finds its origins in the Latin word 'transactus.' This Latin term is the past participle of 'transigere,' a compound word composed of 'trans,' meaning 'across' or 'beyond,' and 'agere,' meaning 'to drive' or 'to do.' Therefore, 'transact' implies the completion of an action that extends beyond a simple task. 'Transaction,' as a noun, encapsulates the essence of such actions, representing exchanges or interactions involving two or more parties that encompass the transfer or exchange of goods, services, or information. The etymology of 'transaction' underscores its historical connection to the intricate web of human exchanges and dealings, reflecting the fundamental role it plays in various aspects of our daily lives, from commerce to communication.

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Further usage examples of transaction

1. The transaction history showed a series of purchases made on the account.
2. They signed a contract to formalize the transaction and protect their interests.
3. The cashier processed the transaction quickly and handed the customer a receipt.
4. He double-checked the details of the transaction before clicking the "Confirm" button.
5. The merger resulted in a complex transaction involving multiple stakeholders.
6. The transaction record indicated a payment was made to the vendor.
7. The transaction took place in a crowded marketplace, with eager buyers and sellers.
8. She decided to cancel the transaction after discovering hidden fees associated with it.
9. The online transaction for the purchase of the laptop went smoothly.
10. A transparent transaction is crucial for trust in business relationships.
11. The bank statement showed a suspicious transaction on her account.
12. The real estate transaction was the largest in the city's history.
13. Their negotiations led to a successful business transaction.
14. A secure encryption system protects sensitive online transactions.
15. The transaction history revealed a pattern of irregular activity.
16. A cashless transaction is convenient in today's digital age.
17. The stock market is filled with complex financial transactions.
18. A fair and equitable transaction benefits both parties involved.
19. The international transaction required multiple currency conversions.
20. The art dealer brokered a high-value transaction for a rare painting.
21. An electronic receipt confirms the completion of your online transaction.
22. The transactional data provided valuable insights into customer behavior.
23. Their dispute over the terms of the transaction led to a legal battle.
24. The merger was a complex transaction that required months of planning.
25. Mobile payment apps have revolutionized small-scale transactions.