A futures contract is a commitment to make or take delivery of a specific quantity of a commodity or other financial obligation at a predetermined place and time in the future. All terms of the contract are standardized and established beforehand‚ except for the price‚ which is determined by open outcry in a pit or ring on the exchange trading floor of a commodity exchange. All contracts ultimately are settled either through liquidation (by offsetting purchases or sales) or by the delivery of the
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enter into a short futures contract to sell July silver for $17.20 per ounce. The size of the contract is 5‚000 ounces. The initial margin is $4‚000‚ and the maintenance margin is $3‚000. What change in the futures price will lead to a margin call? What happens if you do not meet the margin call? Problem 5.2. What is the difference between the forward price and the value of a forward contract? Problem 5.3. Suppose that you enter into a six-month forward contract on a non-dividend-paying stock
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Wilburn Western Civilization II Allison Elledge 2/28/14 What is the Social Contract? How was one to be able to be governed and still remain free men? The Social Contract was an agreement that was part moral and part political obligation that depended on the people to form society. The entire contract explains the aspects to answer this question (Rousseau‚ Jean Jacques. "The Social Contract."). The contract states that there is a way for a person to be part of a society‚ yet still be able
Free Political philosophy Social contract Jean-Jacques Rousseau
CONTRACTS Prepared by: Cleveland Sharpe American InterContinental University What is a Contract A contract is when two or more individuals make an written or oral agreement for legal consideration on a legal subject matter which is bound by law. Elements that Form a Contract Offer – when a party (offeror) indicates the willingness to enter into an agreement on certain specified terms. Acceptance – this is when the offeree agrees to the terms of the contract. Consideration – this is
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CONCEPTS IN THE LAW OF CONTRACTS Contracts are essential to business. They are a legal mechanism used in every industry and every part of the world to structure relationships among firms‚ and with customers‚ partners‚ and suppliers. Over several centuries‚ the law governing contracts has developed a large number of doctrines. Most are consistent with common sense‚ but unless you know what the rules are‚ you can easily make a mistake. This document introduces the fundamentals of contract law most relevant
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the terms outlined in a contract until they find themselves at the receiving end of litigation. In addition‚ they do not recognize that a contract can be established with as little as a verbal agreement between parties which can‚ as with a written contract‚ become the basis to award damages in the event that one or more members default on the agreement. When individuals make purchases they form contracts with the entity whose business they patronize. Formation of a contract for sale need only entail
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Acceptance in Making Business Contracts Dr. Md. Abdul Jalil Associate Professor of Law Department of Business Administration‚ Faculty of Economics and Management International Islamic University Malaysia (IIUM) E-mail: abduljalil@iiu.edu.my‚ abd_jalil2@yahoo.com Abstract Business firms and Business corporations enter into thousands of contracts everyday. Making a formal and written contract is very important for business corporations and firms although oral contracts are accepted and recognized by
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Intel shares. As indicated in the table below‚ the share price is $19.56 and January put option with a strike price of $17.50 costs $0.475. The investor is comparing two alternatives to limit downside risk. The first is to buy 1 January put option contract with a strike price of $17.50. The second involves instructing a broker to sell the 100 shares as soon as Intel’s price reaches $17.50. Discuss the advantages and disadvantages of the two strategies. Strike Price 15.00 17.50 20.00 22.50
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insight into the four elements of a valid contract as well as the objective theory of contracts. It will also explain how the objective theory of a contract applies to this case. I will try to explain why the court held that there was not a valid agreement between the company and the Seattle man. The four elements of a valid contract Contracts are used in today’s world as a major part of interaction between individuals or companies and consumers. Contracts are often used within our professional
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We use contracts to handle a lot of things in our life. Such as‚ we need contract to rent an apartment‚ to get a wireless phone service‚ to install a cable TV‚ to get a job‚ to open a bank account etc. However‚ the contract is not simple and straightforward. There are many hidden dangers that we are not conscious. We must be careful of the hidden clause in contract in order to protect the benefit of us. At the first glance‚ you may feel eased since there are a lot of tedious clauses in contract
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