If There Is a Conflict Between the Express Terms of the Contract

question 25

Multiple Choice

If there is a conflict between the express terms of the contract and trade usage,the:

• A)past course of dealing between the parties will prevail.
• B)seller is excused.
• C)contract is voided.
• D)express terms of the contract prevail.

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Definitions:

Exercise

In finance, it refers to the act of executing one's right to buy or sell the underlying asset in options trading.

Futures Contract

A standardized agreement to buy or sell a specific asset at a predetermined price at a specified time in the future.

Clearinghouse

An intermediary agency that facilitates the clearing and settling of financial transactions, often associated with exchanges and securities.

Profit

The earnings resulting when business activity revenues exceed the necessary expenses, costs, and taxes to maintain the activity.