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116Explain Whether the Following Is a Fair Comment

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116.Explain whether the following is a fair comment."The farmer does not avoid risk by selling grain futures.If grain prices stay above a certain rate, then the farmer will actually have lost money by selling grain at a specified price.


Definitions:

Agreement in Principle

An initial acceptance indicating a preliminary agreement before the details are finalized.

Binding Contract

An agreement between two or more parties that is legally enforceable in a court of law.

Verbal

Pertaining to words or spoken communication, often used in the context of agreements or contracts.

Written Contract

A formal agreement between two or more parties that is fully documented and signed, outlining specific obligations and terms.

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