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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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haha suckers!!!!!!!!!!!!!!!!!
20:38
prolly have a lil family and hobbies what loosers
hahah losers like what? you travel? have a life? not me, i'm reading every line of a contract while my seniors go play golf and enjoy like hahaha suckers
20:40
yea inverse perspective, what is fun is not fun and what is not fun is fun
20:40
you get it.
i wanna be able to travel a ton too
my ex just posted a harry potter related joke i think i dodged a bullet
20:41
Im only going to law school to recruit members for the revolution
20:41
nice where u wanna go? yea bullet dodged fr
can we join even if we're not at ur school
20:44
yeah but youd be in a different chapter
20:44
are we revolting against people who do not use their signal whilst driving?
20:44
We’re revolting against the man, man
20:45
Power does not flow from the sleeve of a judges robe to paraphrase
fuck yeah i'm down
MrThickRopes
20:46
uhhh
MrThickRopes
20:46
Yeeeeaahh
MrThickRopes
20:46
PUT DA BEAT ON BRUH
20:48
Aight yall can join but I call dibs on being assassinated
MrThickRopes
20:49
Unc unc unc unc unc
MrThickRopes
20:49
Up in da club
MrThickRopes
20:49
Up in da club uns uns uns uns uns uns
the unction
20:55
just got a DUI while drinkin an NA beer in my car
20:55
someone help is some1 a hoya lowya here?!
MrThickRopes
21:03
Yoooo wtf
21:03
jk ropes but I do got ops fr
MrThickRopes
21:12
Me too bruh they praying on my downfall fr
21:19
bruh i got ppl tryna make my head a brain smoothie
21:19
serve me with some margarita mix and agave sweetener and summ
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