Any Part of a Court Opinion That Is Unnecessary to the Resolution

question 71

Essay

Any part of a court opinion that is unnecessary to the resolution of a dispute before the court is called ________________ .

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Definitions:

Forward Currency

A contract to exchange a specific amount of one currency for another at a future date and at a predetermined rate, used to hedge against currency risk.

Premium

An amount paid in addition to the standard or nominal cost, often associated with insurance, bonds, or the difference above a product's nominal value.

Spot Rate

The current market price at which a particular asset, such as currency, commodity, or security can be bought or sold for immediate delivery.

Direct Quote

A currency exchange rate quoted as the domestic currency per unit of the foreign currency.