Which of the Following Statements Is True Regarding Common Law

question 4

Multiple Choice

Which of the following statements is true regarding common law?

• A)The rules are spelled out in detail,and judges are responsible for applying the law to the given case.
• B)It draws from a Roman history.
• C)It requires new rules to be written out to reflect the new context even as the context transforms and changes.
• D)It involves more interpretation that can produce conflict with multiple views on the application of the law in question.
• E)It is more predictable and is practiced in the majority of countries.

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Definitions:

Futures Contract

A formal contract to purchase or sell a specific financial asset or commodity at an agreed-upon price on a future date.

Credit Risk

The risk of loss due to a borrower's inability to make payments on any type of debt.

Clearing Corporation

An entity that facilitates the settlement of transactions in the financial markets by ensuring the transfer of funds and securities.

Net Position

The difference between the total number of long and short positions that a trader or institution holds in a particular security, currency, or commodity.