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Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

futures contract

See FUTURES CONTRACT.

futures contract.

An agreement to buy or sell a standardized asset (such as a commodity, stock, or foreign currency) at a fixed price at a future time, usu. during a particular time of a month. ( Futures contracts are traded on exchanges such as the Chicago Board of Trade or the Chicago Mercantile Exchange. - Often shortened to futures. - Also termed futures agreement; time-bargain. Cf. FORWARD CONTRACT; LEVERAGE CONTRACT; OPTION.