If No Time Period for Acceptance Is Stated in an Offer

question 47

Short Answer

If no time period for acceptance is stated in an offer, the offer ends at the end of a(n) ____________________.

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Definitions:

Long Oil Futures Contract

An agreement to buy oil at a specified price on a specified future date, bet taken with the expectation that oil prices will rise.

Close Position

The act of selling or buying securities to offset an existing position, thereby ending the investor's exposure to that investment.

Delivery Date

In the context of futures contracts, it is the specified date on which the underlying asset must be delivered by the seller to fulfill the terms of the contract.

Sell

The act of disposing of an asset or security in exchange for cash or another financial instrument.