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22-33 a Conversion Factor Often Is to Figure the Invoice

question 49

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22-33 A conversion factor often is to figure the invoice price on a futures contract when a bond other than the benchmark bond is delivered to the buyer.


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Infant

A child in the early stages of life, but in legal terms, an individual who is not yet of legal age and therefore does not have full legal capacity.

Contract

A legally binding agreement between two or more parties, enforceable by law.

Corporate Bodies

Corporate bodies are legal entities recognized by law as capable of rights and duties, separate from the individuals who form or manage them, typically referring to businesses or organizations.

Special Legislation

Laws that are made to meet specific needs or regulate particular issues, as opposed to general legislation that applies to broader situations.

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