Question

what is meant by transesterification

Answer 1

it is a reversible reaction in which one ester is converted into another(as by interchange of ester groups with an alcohol in the presence of base 

Answer 2

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Transesterification : When an ester is heated with excess of another alcohol in the presence of a base or an acid as catalyst, a new ester and a new alcohol are formed.

This reaction is called transesterification.