Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Commodity
1. An article of trade or commerce. The term embraces only tangible goods, such as products or merchandise, as distinguished from services. 2. An economic good, esp. a raw material or an agricultural product.
Commodity Credit Corporation
A federal agency that, through loan subsidies and loan purchases, supports prices of agricultural products to help sell the products in domestic and foreign markets. - Abbr. CCC.
Commodity Futures Trading Commission
A federal agency that supervises the trading of commodity futures and commodity options. -Abbr. CFTC.
London commodity option
An agreement to buy or sell a futures contract for a commodity traded on the London markets, for a particular price and within a particular time. London Lloyd's See LLOYD'S OF LONDON.
commodity loan
A loan secured by a commodity (such as cotton or wool) in the form of a warehouse receipt or other negotiable instrument.
commodity option.
See OPTION.
commodity paper
An instrument representing a loan secured by a bill of lading or warehouse receipt.
commodity-backed bond
A bond with interest payments or principal repayment tied to the price of a specific commodity, such as gold. 9 This type of bond, which has a low interest rate but provides a hedge against inflation because the commodity price will usu. rise, is often issued by a firm with a stake in the commodity.