Transaction

Part of speech: noun

Pronunciation: /tɹænˈzækʃən/

Definitions

1. A business deal or exchange where money, goods, or services are transferred between parties
2. An exchange or transfer of goods, services, or funds between two or more parties
3. A process involving the exchange of money, goods, or services among multiple entities in a formal or informal arrangement

Etymology: The English noun "transaction" grew out of a Latin verb meaning to carry something across, and its earliest sense was closer to settling a matter than to trading goods. The Latin "transigere" combined "trans-" (across, through) with "agere" (to drive or do), so it literally meant to drive something through to completion. Late Latin formed "transactio" from that verb, giving the sense of carrying an affair through to an end, often by agreement or compromise. The word reached English by way of Middle French "transaction" and Old French "transaccion". Its meaning in those languages was an agreement or settlement reached between parties, and English took over that legal and negotiated sense. The commercial idea of a sale or exchange of goods and money developed from this core notion of concluding a matter between two sides, which is why a modern transaction can be as small as a card payment.

Synonyms: deal, exchange, trade, operation, agreement

Antonyms: stagnation, inactivity