What Is the Legal Definition of a Transaction

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The concept is a product of German jurisprudence and was developed as an alternative to the French legal facts in relation to the dynamics of legal actions. German legal theory rejects the notion of legal facts; there is therefore only the legal act (legal act, Latin actus iuridicus), which is divided into legal and illegal legal acts. Of the three types of lawful acts (i.e., transactional, quasi-transactional and de facto deeds), the transactional act is the main category. A deed of settlement can be distinguished from other legal acts, i.e. the deed of the settlement type and the de facto law (real act). The quasi-transactional act, although voluntary and intentional, entails legal effects that are not necessarily intentional or sought. The most obvious examples are quasi-contracts such as unjust enrichment, negotiorum gestio and indebiti solutio, as well as recognitions, declarations and the performance of a fiduciary duty. A factual act is involuntary and has no obvious intention; Instead, it happens by chance or is constructed from circumstances (even if they contradict an actor`s express will). Some examples of the latter are constructive trust, a partnership by legal confiscation and a body under apparent authority. In civil law, the word transaction can be used to refer to an agreement (usually written in the form of a contract) between two or more parties, making mutual concessions to prevent or terminate a dispute that could end in a legal dispute. These types of agreements are also known as compromises or settlements.

A settlement act is any voluntary declaration of intent that produces the legal effects that the actor or actors specifically wanted to achieve. Transaction files include most of the unilateral and multilateral laws provided for in the law. The main types are: According to 15 USCS § 7006 (13), [Title 15. Chapter 96. Electronic signatures in global and domestic trade; Electronic Records and Signatures in Commerce] The term “transaction” means “an act or series of actions relating to the conduct of business, consumption or business between two or more persons, including any of the following types of behavior: To carry out a transaction, a man must be able to dispose of the elements contained in the transaction. At common law, this is called a compromise. In business law, a transaction is an event associated with business relationships between two or more parties that involve the formation and performance of an obligation or contract. The word transaction is often used in the real estate and M&A markets.

A legal transaction or legal act (German: legal transaction; Latin: negotium juridicum) is, according to German case law, the main type of lawful act (also known as a legal act, act or act) “by which legal persons may intentionally alter the legal position of themselves or other persons”. [1] The concept is important in civil courts based on or influenced by German law of obligations, such as Albania, Austria, Switzerland, Greece, Turkey, South Korea and Japan. Contracts, civil law. An agreement between two or more persons who, for the purpose of preventing or terminating a dispute, settle their disputes amicably in the manner agreed upon by them; in Louisiana, this contract must be reduced to the written form. Louis Civil Code, 3038. 2. Transactions shall govern only those differences which appear to be clearly understood by the intentions of the parties, whether explained in a general or specific manner, unless they are the necessary consequence of what is expressed; and they do not extend to differences that the parties never wanted to include. No. 3040. 3. To make a transaction, a man must be able to dispose of the things contained in the transaction.

In civil law. A settlement or compromise is an agreement between two or more persons who, in order to prevent or terminate a legal dispute, settle their disputes amicably in the way they agree and that each of them prefers to the hope of winning them, balanced by the risk of losing. This contract must be in writing. Civ. Code La. Section 3071[edit] At common law. Anything that can be done by one person, what affects the rights of another person and from which a cause of action can arise. “Transaction” is a broader term than “contract” A contract is a transaction, but a transaction is not necessarily a contract. Transactions govern only those differences that appear to be clearly understood by the intentions of the parties, whether explained in a general or special manner, unless they are the necessary consequence of what is expressed; and they do not extend to the differences that the parties never wanted to include.

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