Also known as: future · futures contract · futures contracts · commodity futures
Written by attorneys · grounded in primary & secondary sources — see below
Standardized contracts for the purchase or sale of commodities, stocks, or financial instruments for delivery or settlement at a future date.
Flagship Logistics borrows from Fairfield Bank under a mortgage that expressly secures both the initial advance and any future advances the bank elects to make. When the bank later extends an additional loan, the mortgage automatically attaches to that new obligation without requiring a separate instrument. The bank may foreclose on the entire secured amount if Flagship defaults on either the original or later advance.
Frank Fisher raises his fist and declares he will strike Fiona Foster the next time he sees her. Fiona recognizes the statement as a threat of future contact rather than an imminent blow. Because the threatened contact is not immediate, Fisher commits no assault.
Select any source to read its text and confirm it supports the definition.
An anonymous caller tells police that Frederick Ferguson will drive a particular route carrying contraband at a stated time. Officers confirm the prediction by observing Ferguson follow the exact route and schedule. The accurate forecast of future movements supplies the reliability needed for a lawful Terry stop.
Francesca Fowler receives monthly maintenance from her former spouse under a divorce decree. When she remarries six months later, the obligation to pay future maintenance automatically terminates under the governing statute.
Frostline Textiles obtains a judgment against Farah Fox, a trust beneficiary whose interest is not protected by a spendthrift clause. The court authorizes the creditor to attach future distributions the trustee would otherwise pay to Farah.
Falcon Dynamics' treasurer delivers written notice resigning effective upon the board's approval of the next quarterly financial statements. The board accepts the delayed effective date, allowing the company to recruit a successor before the vacancy occurs.
A futures contract is standardized as to quantity, quality, and delivery date and is traded on an organized exchange with clearinghouse guarantees, whereas a forward contract is privately negotiated and lacks those standardization and clearing features.
Yes. The obligation secured by a mortgage may be a future advance or contingent promise to pay, provided the mortgage instrument or related note adequately describes the obligation.
A threat of future contact does not constitute an assault because the apprehension must be of an imminent harmful or offensive contact.
Under the Uniform Marriage and Divorce Act, the obligation to pay future maintenance terminates upon the remarriage of the recipient unless the decree or a written agreement provides otherwise.
A court may authorize a creditor to attach present or future distributions to a beneficiary when the beneficiary's interest is not protected by a spendthrift provision.
…of the challenged statute. Pp. 123-129. (b) The Does' complaint based on their own and their wives' alleged injury from the future possibility of contraceptive failure, possible future pregnancy, and possible future unpreparedness for parenthood is too speculative to present an actual case or controversy. Pp.…