Law Dictionary
To search for a particular term please use the following search box.
Click on a category to see available terms for that category.
- Banking Law
- Canon Law
- Civil Law
- Civil Rights
- Commercial Law
- Common Law
- Consumer Law
- Contract Law
- Contracts
- Corporate Law
- Courts
- Criminal Law
- Employment Law
- English Law
- Family Law
- Feudal Law
- French Law
- General Practice
- Government
- Health Law
- Immigration Law
- Insurance Law
- Intellectual Property Law
- International Law
- Investment Law
- Latin Terms
- Maritime Law
- Military Law
- Monarchy
- Obsolete
- Real Estate Law
- Roman Law
- Scottish Law
- Spanish Law
- Tax Law
- Torts
- Transportation Law
- Trusts and Estates
- Water Law
transaction
contracts, civil law. An agreement between two or more persons, who for the purpose of preventing or putting an end to a law-suit, adjust their differences by mutual consent, in the manner which they agree on; in Louisiana this contract must be reduced to writing. Civil Code of Louis, 3038.
2. Transactions regulate only the differences which appear to be clearly comprehended in them by the intentions of the parties, whether they be explained in a general or particular manner, unless it be the necessary consequence of what is expressed; and they do not extend to differences which the parties, never intended to include in them. Id. 3040.
3. To transact, a man must have the capacity to dispose of the things included in the transaction. Id. 3039; 1 Domat, Lois Civiles, liv. 1, t. 13, s. 1; Dig. lib. 2, t. 15, l. 1; Code lib. 2, t. 4, 1. 41. In the common law this is called a compromise. (q. v.)
Source : Bouvier 1856
Language : English