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Simple English definitions for legal terms

London commodity option

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A quick definition of London commodity option:

A London commodity option is a type of agreement where someone agrees to buy or sell a futures contract for a commodity that is traded on the London markets. This agreement is made for a specific price and within a specific time frame. Essentially, it's a way for people to make a deal about buying or selling a certain commodity in the future, based on what they think the price will be.

A more thorough explanation:

A London commodity option is a contract that allows the buyer to purchase or sell a futures contract for a commodity that is traded on the London markets. This contract is agreed upon for a specific price and within a particular time frame.

Let's say that a farmer wants to sell his wheat crop, but he is worried that the price of wheat will go down before he can sell it. He could enter into a London commodity option contract with a buyer, which would allow him to sell his wheat at a specific price, even if the market price drops. This would protect him from any potential losses.

On the other hand, a baker might want to buy wheat for his bakery, but he is worried that the price of wheat will go up before he can purchase it. He could enter into a London commodity option contract with a seller, which would allow him to buy the wheat at a specific price, even if the market price goes up. This would protect him from any potential price increases.

These examples illustrate how a London commodity option can be used to manage risk and protect against potential losses or price increases.

Lombard law | London Interbank Offered Rate

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babycat
16:00
@shaquilleoatmeal: I’ll stop by just for you. I gotta grind out some of my last essays tn.
shaquilleoatmeal
16:02
@soyalmondoatmilk: im weak af, can't handle that spicy cashew lmao
shaquilleoatmeal
16:03
@babycat: 😘 see you in a bit, grind out those essays before you hop back on
shaquilleoatmeal
16:04
appreciate the non wink since you didn't appreciate it them then lol
babycat
16:06
I'll do it for you ;)
16:06
Tough to justify attending a law school where the admissions office does epic resistance political commentary at the info session
BulbasaurNoLikeCardio
16:07
making me feel jealous here wow, I am about to go taste test a bunch of deserts for our baby shower this weekend.
BulbasaurNoLikeCardio
16:07
@milktoast: what school got political at an info session?
shaquilleoatmeal
16:11
nothin to be jealous about, i've been trying to slide into babycats dms but shes got a long line I guess I gotta wait in to see if I can get in lmao
babycat
16:11
omg if you get into ASU they give you travel expense reimbursement to go there for a visit. does anyone know which other schools do this? I'd love to get a comped vacation
shaquilleoatmeal
16:12
think BU gives you $300 or somethin
ClassyPleasantHeron
16:12
Where is ASU getting this kind of $$$ from? They waive CAS fees too.
babycat
16:13
@shaquilleoatmeal: yeah but then you have to go to Boston :(
shaquilleoatmeal
16:14
uva too
shaquilleoatmeal
16:14
whats wrong w boston ;(
GOT PROMOTED YAY how do i tell law schools abt this?
like do i type up and separate doc and send as an attachment? how much do i write?
shaquilleoatmeal
16:15
@jackfrost11770: LFGGGG
TYYYYYY
shaquilleoatmeal
16:16
do any of your schools have updated sections in the portal? If so, i'd upload there, if not email. Small paragraph should do it id think
1a2b3c4d26z
16:16
Who wanna play some operation metro later on
1a2b3c4d26z
16:16
Congrats jack!
thank you!!
babycat
16:16
@jackfrost11770: personally I would submit an updated resume reflecting the new position instead of a paragraph but idk what SOP is
getting a bacon egg and cheese in celebration
1a2b3c4d26z
16:18
lfg baby you earned that
babycat
16:20
also congrats!! big win
initiallaw
16:23
congrats!!
:D
the big W is that i get reimbursed for travel now thank GOD
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