What if the hit nose is not a transaction? What if an individual swings their arms without care, and your nose merely happens to be in the way? I might get mad at you when I find an obstruction to my swinging. You might equally get mad at me for having hit you. Deciding between these constitutes deciding who has a right in that situation. In the example, you have a right to not be hit. Therefore, I have no right to swing my arms about if it conflicts with that right. However this decision is completely arbitrary; a society could just as easily exist that decides that I have a right to swing my arms about, and you have a responsibility to get out of my way.
Yes this is a ridiculous example and yes there are many examples where explicitly negotiating terms is not necessary. When this is, and when it not, is a cultural thing. I mean I shake hands with a woman without second thought, an Islamic Imam may need some special compensation before agreeing to it.
I'm pushing this discussion to the edge because it feels extremely significant to me. Pushing it over my own boundaries also is a way of testing my premises. I'm certainly willing to change my mind.