I'd go with form validation -- you shouldn't allow a Purchase to be added
to a transaction if a Purchase with a conflicting status is already in
there, nor should a Purchase be able to be modified if it's in a
transaction with another Purchase.

Then you never have to check whether a transaction is valid. The models
pasted don't give the complete picture of the relationship, but garbage in,
garbage out, so just don't allow them to exist in the first place.

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