Foreign Currencies Are Traded

question 40

Multiple Choice

Foreign currencies are traded:

• A) only by banks in New York and London.
• B) over the counter.
• C) on both the NYSE and NASDAQ.
• D) on the Intercontinental Exchange.

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Definitions:

Contractual Duties

Obligations that parties are legally bound to perform as specified in a contract.

CISG

The United Nations Convention on Contracts for the International Sale of Goods, which governs the sale of goods between parties based in different countries.

Unliquidated Debt

A debt for which the exact monetary value has not been determined, often due to the nature of the claim or disputes over the amount.

Preexisting Duty

A legal concept referring to a duty that a party is already legally obliged to perform, which cannot serve as consideration for a new contract.