A Personalised Contract Between Two Parties Whereby One Party Agrees

question 4

Multiple Choice

A personalised contract between two parties whereby one party agrees to sell a bale of wool to another party in the future at a price determined today is an example of a:

• A)futures contract.
• B)forward contract.
• C)wool option.
• D)spot contract.

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Definitions:

Flatness

A geometric tolerance that specifies the maximum allowable deviation of a surface from being perfectly flat.

Geometric Tolerance

The maximum permissible deviation in shape and location for a geometric element.

Characteristic Symbol

A symbol used in engineering drawings to represent the type of geometric characteristic that is being controlled by a geometric tolerance.

Symmetry

A characteristic where an object or design is evenly proportioned and balanced, such that it can be divided into matching halves by one or more axes.