Transaction Meaning

Transaction

Definitions and Meaning in English

1. The action or process of conducting business, trade, or an exchange, especially involving money or goods.
2. A specific instance of buying or selling something.
3. A written or verbal agreement that is legally binding or involves an exchange of goods, services, or money.
4. The process of exchanging information or data between two systems or parties, often used in technology contexts.

History and Origin

The word “transaction” originates from the Latin transactio, meaning “a dealing or agreement,” from transigere, meaning “to carry through or settle.” The term has been used in English since the 16th century, primarily in the context of business dealings. Over time, its meaning expanded to include various exchanges beyond just commercial transactions, such as those involving information, services, and even legal agreements.

Detailed Explanation

A transaction refers to any exchange, agreement, or interaction between two or more parties where something of value is transferred, typically money or goods. In business, it is most commonly associated with the exchange of goods or services for money. Transactions can be simple, such as purchasing an item from a store, or more complex, like large-scale financial deals or corporate acquisitions. In the context of technology, a transaction may also refer to the exchange of data or the completion of a process in computing, such as online transactions in banking or e-commerce.

Example Sentences

1. The company processed hundreds of transactions every day through its online platform.
2. She completed the transaction by transferring the required funds to the seller’s account.
3. The business deal involved a complex series of transactions between multiple parties.
4. Each transaction in the store was logged and processed by the point-of-sale system.
5. The bank charges a small fee for international transactions.
6. The team studied the transaction history to identify any unusual activity in the account.
7. He was careful to review the terms before agreeing to the real estate transaction.
8. The e-commerce platform ensures secure transactions for its customers.
9. They agreed on the terms of the transaction, and the contract was signed shortly afterward.

Synonyms with Short Explanation

1. Deal – A business agreement or arrangement, often used interchangeably with transaction in casual contexts.
2. Exchange – The act of giving one thing and receiving another, commonly used in the context of trade or transactions.
3. Agreement – A mutual arrangement or understanding, often formalized in a transaction.
4. Trade – The action of buying and selling goods or services, related to the concept of transactions.
5. Contract – A legally binding agreement, often the basis of formal transactions, especially in business.

Related Words with Short Explanation

1. Payment – The action or process of transferring money in exchange for goods or services, an integral part of many transactions.
2. Receipt – The confirmation of a transaction, often in the form of a written acknowledgment.
3. Settlement – The finalization of a transaction, particularly in financial or legal contexts.
4. Invoice – A document that outlines the details of a transaction, particularly in sales or services.
5. Purchase – The act of buying something, which is typically a form of transaction.

More Matches with Short Explanation

1. Bargain – A transaction in which goods or services are exchanged, often involving negotiation or a deal.
2. Agreement – A mutual understanding or arrangement that underpins many types of transactions.
3. Exchange – The act of swapping goods, services, or money, similar to a transaction.
4. Trade-Off – A situation where one thing is given in exchange for another, a common feature in transactions.
5. Contract – A formal agreement that governs the terms of a transaction, often legally binding.

Antonyms

1. Donation
2. Gift
3. Charity
4. Free
5. Rejection