Transaction Law and Legal Definition

According to 15 USCS § 7006 (13), [Title 15. Commerce and Trade; Chapter 96. Electronic Signatures in Global and National Commerce; Electronic Records and Signatures in Commerce] the term transaction means “an action or set of actions relating to the conduct of business, consumer, or commercial affairs between two or more persons, including any of the following types of conduct--

(A) the sale, lease, exchange, licensing, or other disposition of (i) personal property, including goods and intangibles, (ii) services, and (iii) any combination thereof; and

(B) the sale, lease, exchange, or other disposition of any interest in real property, or any combination thereof.”