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Simple English definitions for legal terms

futures contract

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A quick definition of futures contract:

A futures contract is an agreement between two people to buy or sell something at a certain time in the future, at a price that is agreed upon now. This can be used for things like crops, animals, energy, or even stocks. It helps people protect themselves from changes in prices.

A more thorough explanation:

A futures contract is a legal agreement between two parties to buy or sell a specific commodity at a predetermined price and date in the future. The Commodity Futures Trading Commission (CFTC) is responsible for regulating futures contracts in the United States. Futures contracts can be used to protect against price fluctuations.

  • A farmer may enter into a futures contract to sell their crop at a set price before it is even harvested. This protects them from a drop in market prices.
  • An airline may enter into a futures contract to buy fuel at a set price in the future, protecting them from price increases.
  • A company may enter into a futures contract to buy a certain amount of gold at a set price in the future, protecting them from price fluctuations.

These examples illustrate how futures contracts can be used to manage risk and protect against price changes. By entering into a futures contract, parties can lock in a price for a commodity, which can be beneficial for both buyers and sellers.

future interest | GAAP

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im so dumb its literally Saturday
bbq it is
law school has made me unaware of the days of the week
me too, me too
amlaw
17:40
do you guys want to hear my newest irrational fear
[] ararara
18:18
That you have so much fun tonight dancing after the sun goes down you fall in love but way too hard and your heart pops!
[] ararara
18:19
Hi wherever you are hope you have a great Saturday! Stay hydrated!
hydrating! 👹
[] ararara
19:12
Hahah lolll show those fools your dance moves!! I am actually about to start working until about 4 in the morning so I can go out of town Tuesday so avenge me!
[] ararara
19:12
I came face to face with an Amazon worker on prime day though and that was crazy. Don’t think I’ll ever forget that. They looked completely drained it was insane.
rip to that young lad, wishing them hydration and days off from work. don’t work yourself too hard ara! chronic stress kills!
[] ararara
19:16
Thanks wasp right back at you! You too! This work is really interesting! It’s one of three jobs where it’s been hard to stop before school starts for sure.
babybunny
22:59
you have to be the art hoe gf u want to see in the world
willing
manifestmoreadmissions
0:24
bunny i am trying so hard idk if i can cut it
amlaw what's your fear
amlaw
10:02
that i got rejected from washu and just didn't see the email even though i've checked my spam and everything because they don't change their portals at all
that sucks :(
amlaw
10:36
and i know its crazy lol
hahaha yes it is crazy lol
babybunny
15:03
Heard Biden dropped out of the race. Made me remember when you said bye den dropped out of my life. You'll always be my first choice nominee. No need to text back
amlaw
15:03
i have never fully comprehended any of your messages bunny
when you said bye den dropped out of my life
i have a 3.38 and hope to get a 175+ on the LSAT
Does anyone know which schools place in federal positions outside of T14? UT,SMU, TAMU, George Mason, George Washington, ASU)
odds for sls waitlist this cycle?
Justvibin123
18:33
Who ever is accepted at Wayne state and is not attending can you please withdraw your app 🥹
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