Transact, v. t. [imp. & p. p. Transacted; p. pr. & vb. n. Transacting.]
Etymology: [L. transactus, p. p. of transigere. See Transaction.]
To carry through; to do; perform; to manage; as, to transact commercial business; to transact business by an agent.
1 other Webster entry under this spelling
Transact, v. i.
To conduct matters; to manage affairs. [R.] South.
Shades of meaning
There are many acts that one may do, accomplish, or perform unaided; what he transacts is by means of or in association with others; one may do a duty, perform a vow, accomplish a task, but he transacts business, since that always involves the agency of others. To negotiate and to treat are likewise collective acts, but both these words lay stress upon deliberation with adjustment of mutual claims and interests; transact, while it may depend upon previous deliberation, states execution only. Notes, bills of exchange, loans, and treaties are said to be negotiated, the word so used covering not merely the preliminary consideration, but the final settlement. Negotiate has more reference to execution than treat; nations may treat of peace without result, but when a treaty is negotiated, peace is secured; the citizens of the two nations are then free to transact business with one another. Compare DO.