Commodity Contract - Law Dictionary Search Results
Commodity contract
Matched in: Term Commodity contract
future
traded on an exchange in which a party agrees to buy or sell a quantity of a bulk commodity (as soybeans) at a specified future date and at a set price usually used in pl. NOTE: If … future : a contract traded on an exchange in which a party agrees to buy or sell a quantity of a bulk
Goods
in itself is not a 'good', but when transferred to a laser-readable disc it becomes a readily merchant-able commodity. Similarly, when a professor deliv-ers a lecture, it is not a good, but, when transcribed as a book, … in the Sale of Goods Act, sale of timber agreed to be severed under the terms of the contract may be regarded as sale of goods, State of Maharashtra v. Champalal Kishanlal Mohota, AIR 1971 SC 908:
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contract
Matched in: Term contract
Speculative transaction
Act defines a speculative transaction as 'a transaction in which a contract for purchase and sale of any commodity including stocks and shares is periodically or ultimately settled otherwise than by the actual delivery or transfer of
Take delivery
Take delivery, means to receive something pur-chased or order, especially, to receive a commodity under a future contract or spot-market contract, or to receive securities recently purchased, Black's Law Dictionary, 7th Edn.,
naked
or of exclusive control, use, or possession 2 : not backed by the option writer's ownership of the commodity, the contract for the commodity, or the security
Conditions
or limitation modifying or even destroying to a certain extent the right to carry on the business. The commodities in which the association can carry on the business of forward contract is an integral part of its
Illegal contract
Matched in: Term Illegal contract
Building contract
Matched in: Term Building contract
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