Definition of transact verb from the Oxford Advanced Learner's Dictionary

 

transact

 verb
verb
BrE BrE//trænˈzækt//
 
; NAmE NAmE//trænˈzækt//
 
Verb Forms present simple I / you / we / they transact
BrE BrE//trænˈzækt//
 
; NAmE NAmE//trænˈzækt//
 
he / she / it transacts
BrE BrE//trænˈzækts//
 
; NAmE NAmE//trænˈzækts//
 
past simple transacted
BrE BrE//trænˈzæktɪd//
 
; NAmE NAmE//trænˈzæktɪd//
 
past participle transacted
BrE BrE//trænˈzæktɪd//
 
; NAmE NAmE//trænˈzæktɪd//
 
-ing form transacting
BrE BrE//trænˈzæktɪŋ//
 
; NAmE NAmE//trænˈzæktɪŋ//
 
Running a business
 
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[transitive, intransitive] transact (something) (with somebody) (formal) to do business with a person or an organization buyers and sellers transacting business Those who transact business in London must know what the rules are. Virtually all local trading was transacted in grain rather than in cash. See related entries: Running a business Word Origin late 16th cent.: from Latin transact- ‘driven through’, from the verb transigere, from trans- ‘through’ + agere ‘do, lead’.
See the Oxford Advanced American Dictionary entry: transact