futures contract

futures contract
futures contract see contract

Merriam-Webster’s Dictionary of Law. . 1996.

futures contract
n.
An agreement to buy shares of a commodity at a fixed price but with delivery and payment occurring at an agreed-upon date in the future; if the price of the commodity rises during that period, the seller pays the buyer the difference between the agreed price and the current price, and if the price of the commodity drops, the buyer pays the seller the difference.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

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