A Futures Clearing House Is

question 208

Multiple Choice

A futures clearing house is:

• A) The buyer to each seller and the seller to each buyer
• B) A clearing agent only
• C) The self-regulatory organization for the futures exchange
• D) The owner of the futures exchange

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Definitions:

UCC Statute of Frauds

A section under the Uniform Commercial Code that requires certain types of contracts to be in writing to be enforceable, particularly those involving the sale of goods over a certain value.

E-mail

A method of exchanging digital messages over the Internet, using a software application to compose, send, store, and receive messages.

Course of Performance

A term in contract law referring to the conduct between contracting parties that is consistent with their agreement, influencing future interpretations of the contract terms.

Course of Dealing

A sequence of actions or conduct between parties in a business or legal relationship that establishes a common basis for understanding future transactions.