_____ Is the Option or the Right but Not the Obligation

question 8

Multiple Choice

_____ is the option or the right but not the obligation to exchange a specific amount of currency on a specific future date and at a specific agreed-on rate.

• A)Currency option
• B)Currency swap
• C)Currency conversion
• D)Cross rate
• E)Currency futures contract

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Definitions:

Contract Law

A legal domain that governs the creation, enforcement, and dissolution of contracts between parties, ensuring that agreements are fair and binding.

Specific Performance

A legal remedy requiring a party to perform a specific act, usually in reference to fulfilling a contract, rather than paying damages for failing to fulfill it.

Contract Terms

The specific provisions, requirements, and conditions outlined in a contract.

Administrative Agencies

Governmental bodies responsible for executing laws and regulations within specific areas such as health, safety, and the environment.