A Speculator Must Make a Good Faith Deposit After Entering

question 31

True/False

A speculator must make a good faith deposit after entering a futures contract to buy wheat.​

Understand the implications of not having a written agreement and how courts handle unenforceable contracts.

Grasp the principles behind the requirement of writing for certain contracts and the exceptions to this requirement.

Appreciate the role of contract law in enforcing commercial agreements and facilitating commercial transactions.

Understand how courts determine the inclusion of exaggerated claims in contract agreements.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.