Meaning of “transact” in the English Dictionary

"transact" in American English

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transactverb [ T ]

us /trænˈzækt/ fml

to do business, to buy or sell things:

You can transact business electronically.
noun [ C ] us /trænˈzæk·ʃən/

It was the biggest real estate transaction in the city’s history.

(Definition of “transact” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"transact" in Business English

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transactverb [ I or T ]

/trænˈzækt/ uk us formal

COMMERCE to make and complete a purchase (= occasion when you buy something) or a sale:

The company transacts business in various foreign countries.
Some 40% of its foreign-exchange deals are now transacted through the net.
transact with sb/sth IT lowers the costs of transacting with outside suppliers.

(Definition of “transact” from the Cambridge Business English Dictionary © Cambridge University Press)