Fandom

The IT Law Wiki

Transaction

32,189pages on
this wiki
Add New Page
Talk0 Share

Ad blocker interference detected!


Wikia is a free-to-use site that makes money from advertising. We have a modified experience for viewers using ad blockers

Wikia is not accessible if you’ve made further modifications. Remove the custom ad blocker rule(s) and the page will load as expected.

Definitions Edit

A transaction (also referred to as an online transaction or an Internet transaction) is

[a]n electronic communication among two or more parties (e.g., business, negotiations, activities, etc.) of a discrete unit of work brought to the mutually agreed conclusion or settlement. The parties have an obligation to play their parts during the transactions and honor their commitments after the transaction.[1]

Identification, authentication, and authorization of these parties within a given transaction enable trust. Individuals, organizations, hardware, and software are all participants in an online transaction; therefore, attention to the identification, authentication, and authorization of each is paramount.[2]

[a]n agreement, communication, or movement carried out between separate entities or objects, often involving the exchange of items of value, such as information, goods, services and money.[3]
[a] command, message, or input record that explicitly or implicitly calls for a processing action. Information contained in a transaction shall be applicable to a single subject.[4]
the sale or purchase of goods or services, whether between businesses, households, individuals, governments, and other public or private organisations, conducted over the Internet. The goods and services are ordered over the Internet, but the payment and the ultimate delivery of the good or service may be conducted on or off-line.[5]

References Edit

  1. National Strategy for Trusted Identities in Cyberspace, at 34.
  2. Id. at 6.
  3. SOA4All, Glossary (full-text).
  4. NIST Special Publication 500-245, at 3.
  5. OECD Guide to Measuring the Information Society 2011, at 72.

See also Edit

Also on Fandom

Random Wiki