Black's Law Dictionary (2nd edition)dictionaries

Transactio

Lat in the civil lav. The settlement of a suit or matter in con-troversy, by the lltlgatlng parties, between themselves, wlthout referring it to arbltra-tlon. Hallifax, Clvll Law, b. 3, c. 8, no. 14. An agreement by whlch a sult, elther pend-ing or abont to be commenced, was forborne or discontinued on certain terms. Calvin

Source: Black's Law Dictionary 2nd Ed (1910)