Examlex
Forward contracts are not subject to default risk because the exchanges honor the contract in case the counterparty defaults; but future contracts are subject to default risk because they are non standardized contracts.
Principal
The primary party involved in a transaction or contract, or the amount of money originally invested or loaned, before interest.
Agent
An individual or entity authorized to act on behalf of another (the principal) in legal or business matters.
Manifestations
Manifestations refer to displays or expressions of an act, event, or condition, revealing the presence or existence of something.
Reasonable Understanding
A standard determining what a typical person would comprehend in a given set of circumstances.
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