Chris Receives a Printed Form in the Mail from Wyandott

question 48

Multiple Choice

Chris receives a printed form in the mail from Wyandott Heating indicating that he has placed a telephone order for a $600 heater.He doesn't recall placing the order.Which of the following is correct?

• A) Wyandott can hold Chris to the order.
• B) Chris can hold Wyandott to the order.
• C) Neither party is bound,because there is no signed writing.
• D) Chris is bound if he makes no objection within 10 days.

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Definitions:

May Coffee Futures

Contracts for the future delivery of coffee that are due in May, used for hedging and speculative purposes in the commodities market.

Settlement Value

The final value at which a futures contract is settled upon expiration or closing.

Call Option

A financial contract that gives the buyer the right, but not the obligation, to buy an asset at a predetermined price within a specific time period.