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The Internet provides the opportunity for quickly setting up deals between businesses for promoting each other's products, and to jointly offer new services. Specification and enforcement of such deals stretch traditional transaction processing concepts in several directions since they involve independent businesses with their own internal processes. First, the greater variability in response time in business to business interaction creates a need for asynchronous and event-driven processing, in which correct handling of reissued and cancelled requests is critical. Second, a new transaction processing paradigm is required that supports different views of a unit of business for all participants, i.e., service providers as well as end consumers. Between any two interacting parties, there may be several related interactions dispersed in time, creating a long running conversation. This paper describes our approach (Coyote) to solving these problems including use of a service contract for specifying the rules of interaction across businesses, and directly generating code for enforcement of the contract. We finally describe the architecture and a prototype of a system which implements the Coyote concepts.