A ________ Is a Contract That Requires the Holder to Buy

question 3

Multiple Choice

A ________ is a contract that requires the holder to buy or sell a stated commodity at a specified price at a specified time in the future.

• A)warrant
• B)option
• C)future
• D)convertible contract

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Definitions:

Reasonable Opportunity

A legal concept that refers to the fair chance given to all parties involved in a proceeding to present their case, access relevant information, and respond to evidence against them.

Stop-Payment Order

A request made to a bank to cancel a check or payment before it has been processed.

Comparative Fault

A legal doctrine that allocates damages based on the degree of fault or negligence found against each party in a lawsuit.

Forged Checks

Checks that have been illegally modified or created without authorization to benefit the forger.