Explain How the Principle of Estoppel Can Be Important in an Agency

question 61

Essay

Explain how the principle of estoppel can be important in an agency relationship.

Understand the process of closing out a futures position before the delivery date.

Comprehend the differences between futures and forward contracts, including their trading venues.

Understand the concept of open interest and its significance in futures markets.

Identify the standardization of futures contracts and its difference from forward contracts.

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Definitions:

Logical Structure

The arrangement and relationship of components within a statement or argument that determines its validity.

Premises

Statements or propositions that are assumed to be true and serve as the basis for a conclusion in an argument.

Dependent Premises

Premises in an argument that rely on each other for their validity; the truth of one is dependent on the other.

Pudding Recipe

A set of instructions for preparing pudding, including ingredients and steps involved in its cooking or assembly.