Transact

In common parlance, equivalent to carry on, when used with reference to business. Territory v. Harris, 8 Mont 140, 19 Pac. 286. TRANSACTIO (Lat.). In the Civil Law. The settlement of a suit or matter in controversy, by the litigating parties between themselves without referring it to arbitration. Halifax, Civil Daw b. 3, c. 8, no. 14. A part payment, coupled with a promise not to claim the residue; compromise. Holland, Jurispr. 260.