Futures Contract - Law Dictionary Search Results
Home Dictionary Name: futures contract Page: 2Executed contract
Executed contract, where nothing remains to be done by either party, and where the transaction is completed at the moment that the agreement is made, as where an article is sold and delivered, and payment therefor is made on the spot. a contract is said to be executory where some future act is to be done, as where an agreement is made to build a house in six months, or to do an act on or before some future day, or to lend money upon a certain interest, payable at a future time....
Repudiation
Repudiation, (1) the putting away of a wife or of a woman betrothed; (2) the renunciation of a contract [which renders the repudiator liable to be sued for breach of contract, and entitles the repudiatee, on accepting the repudiation, to treat the contract as at an end: see per Lord Blackburn in Mersey Steel and Iron Co. v. Naylor, (1884) 9 App Cas 434] (see WARRANTY); (3) the refusal to accept a benefice.A contracting party's words or actions that indicate an intention not to perform the contract in the future; a threatened breach of contract, Black's Law Dictionary, 7th Edn., p. 1306....
Infant
Infant [fr. infans, Lat., one who cannot speak], a person under twenty-one years of age, whose acts are in many cases either void or voidable. See AGE.At Common Law, the contracts of infants are divided into three classes: 1st. Those which are absolutely void; such as are positively injurious to the interests of the infant, and can only operate to his prejudice; as a surety-bond, or a release to his guardian.2nd. Those which are only voidable: such as are beneficial to him, which he may affirm or avoid when he comes of age; as a conveyance of lands, a promissory note, an account stated.3rd. Those which are binding ab initio and need on ratification: such as contracts for the public service, Articles of apprenticeship [see Green v. Thompson, (1899) 2 QB 1], executed contracts of marriage, representative acts as executor or trustee, contracts for necessaries. In an action brought for the price of goods, if the defendant pleads infancy, the onus is on the plaintiff to prove that the goods...
The contract contains any other stipulation by penalty
The contract contains any other stipulation by penalty, the expression 'the contract contains any other stipulation by way of penalty' comprehen-sively applies to every covenant involving a penalty whether it is for payment on breach of contract of money or delivery of property in future, or for forfeiture of right to money or other property already delivered, Fateh Chand v. Balkishan Das, AIR 1963 SC 1405 (1411): (1964) 1 SCR 515...
future
future : a contract 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 the price of the commodity has gone up when the future date arrives, the buyer in the contract profits. If the price has gone down, the seller profits. ...
anticipatory repudiation
anticipatory repudiation : a refusal by one party to a contract to perform his or her future obligations under the contract that is expressed either by a clear statement of refusal or by a statement or action that clearly implies refusal ...
derivative
derivative : a contract or security that derives its value from that of an underlying asset (as another security) or from the value of a rate (as of interest or currency exchange) or index of asset value (as a stock index) NOTE: Derivatives often take the form of customized contracts transacted outside of security exchanges, while other contracts, such as standard index options and futures, are openly traded on such exchanges. Derivatives often involve a forward contract. adj 1 : arising out of or dependent on the existence of something else compare direct 2 : of, relating to, or being a derivative [a transaction] de·riv·a·tive·ly adv ...
Appropriation of goods
Appropriation of goods, Upon a contract for sale of unascertained or future goods is an act identifying goods specifically with the contract. The appropriation may be made by either party with the express or implied consent of the other absolutely or conditionally or revocably, delivery to the buyer or a bailee without any reservation of the right of disposal transfers the property. See (English) Sale of Goods Act, 1893 (56 & 57 Vict. c. 71) s. 21....
Letter of intent
Letter of intent, indicates the parties intention to enter into a contract with the other party in future and is not intended to find either party ultimately to enter into any contract, Dresser Rand S.A. v. Binalal Agro Chem Ltd., (2006) 1 SCC 751....
Potential
Potential, in Oxford Dictionary it is defined as 'capable of coming into being, possibility'. In Black's Law Dictionary it is defined as extending in possibility but not in act'. Naturally and probably expected to come 'into existence at some future time, though not now existing; for example, the future product of grain or trees already planted, or the successive future instalments or payments on a contract or engagement, already made.' In other words service which is not only extended to actual users but those who are capable of using it are covered in the definition. The clause is thus very wide and extends to any or all actual or potential users, Lucknow Development Authority v. M.K. Gupta, (1994) 1 SCC 243: AIR 1994 SC 787 (793). [Consumer Protection Act, 1986, s. 2(o)]...
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