what do you do with essential oils The American petroleum institute (API) released data showing a decline in U.S. crude oil and refined refining inventories, while gasoline inventories rose. The "property right of the new system" is the premise. Central bankers must learn to speak in colloquial language Any transaction can be seen as a contract between the two parties. The so-called transaction cost can be seen as the cost of the transaction contract. According to Mr Coase and others, a type of transaction costs arise from the accidental factors that occur when a deal is signed. These incidental factors may not be written into the contract due to the fact that they could not be foreseen in advance, or although they could be foreseen, they could not be written into the contract due to too many factors. Another type of transaction costs is the signing of contracts and the cost of monitoring and enforcing contracts.