Who Guarantees That a Futures Contract Will Be Fulfilled

question 57

Multiple Choice

Who guarantees that a futures contract will be fulfilled?

• A) The buyer
• B) The seller
• C) The broker
• D) The clearinghouse
• E) Nobody

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Definitions:

Financing Statement

A document filed to give public notice of a security interest in personal property, securing payment or performance of an obligation.

Chattel Paper

A document or electronic record indicating both a monetary obligation and a security interest in or a lease of specific goods.

Monetary Obligation

A required payment of money owed by one party to another, typically defined by the terms of a contract or agreement.

Security Interest

A legal claim or lien on collateral or property, given by the borrower to the lender, to secure repayment of a loan.