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A Contract Giving the Right to Receive a Specified Quantity

question 47

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A contract giving the right to receive a specified quantity of foreign currency at a future date is known as a:


Definitions:

Investment

The allocation of resources, such as capital, with the expectation of generating an income or profit.

Days

The measurement of time, specifically the period of time that constitutes a 24-hour day.

Interest

A fee applied to borrowed funds, usually calculated as a percent of the principal amount.

Loan

A sum of money that is borrowed, typically from a financial institution, and is expected to be paid back with interest.

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