In Recent Decades

question 7

Multiple Choice

In recent decades

• A) trading in financial futures declined in importance relative to trading in agricultural and mineral commodities futures.
• B) trading in financial futures increased in importance relative to trading in agricultural and mineral commodities futures.
• C) trading in agricultural and commodities futures was discontinued.
• D) trading in financial futures was discontinued.

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Definitions:

Merchant

An individual or business entity engaged in the trade of goods, services, or both, to consumers.

Bilateral Contract

A mutual agreement between two parties where each promises to perform an act in exchange for the other party's act.

Valid Contract

A legally binding agreement between parties that is enforceable by law, meeting all essential elements like offer, acceptance, consideration, and mutual intent.

Rejection

In contract law, an express or implied manifestation of an offeree’s unwillingness to contract on the terms of an offer. In sales law, a buyer’s refusal to accept goods because they are defective or nonconforming.