Which One of the Following Is a Contract Managed by an Organized

question 15

Multiple Choice

Which one of the following is a contract managed by an organized exchange that allows a buyer and seller to agree on a price today for an exchange of goods that will occur sometime in the future?

• A)futures contract
• B)spot market
• C)cash market
• D)forward contract
• E)discounted contract

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Definitions:

Contributory Negligence

A legal principle where if a party can be shown to have contributed to their own injury or loss, they may be barred from recovering damages.

Smoke Alarms

Devices designed to detect smoke and emit an alarm, providing early warning of fire.

Negligence Action

A legal claim brought against someone who fails to act with the level of care that someone of ordinary prudence would have exercised under the same circumstances, resulting in harm or damage.

Building Owner

An individual or entity that holds title to a building or property.