Examlex
Explain what is meant by "privity of contract."
Option Contract
A financial derivative that provides the buyer the right, but not the obligation, to buy or sell an asset at a specified price within a specific time period.
Forward Contract
A derivative financial contract obligating the buyer to purchase an asset, or the seller to sell an asset, at a predetermined future date and price.
Swap Contract
An agreement by two parties to exchange, or swap, specified cash flows at specified intervals in the future.
Currencies
Forms of money that are issued by governments and used as a medium of exchange for goods and services in economic transactions.
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