Futures

Defined in 4 dictionaries — Cyclopedic (1922), Ballentine's (1916), Bouvier (1914), Black's (1910)

The Cyclopedic Law Dictionary

Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922

See "Gambling Contract." FUTURI (Lat. those who are to be). Part of the commencement of old deeds. "Seiant praesentes et futuri, quod ego, talis, dedi et concessi," etc., let all men now living and to come know that I, A. B., have, etc. Bracton, 34b. FU2, or FUST. A wood or forest.

Ballentine's Law Dictionary

James A. Ballentine · 1916

Contracts for the sale and future delivery of stocks or commodities, wherein either party may waive delivery and receive or pay the difference in market price at the time set for delivery. See 71 Miss. 514, 14 South. 33.

Bouvier's Law Dictionary and Concise Encyclopedia

John Bouvier; revised by Francis Rawle · 1914

This term has grown out of tijose purely speculative transactions, in which there Is a nominal contract of sale for future delivery, but where in fact none is ever Intended or executed. The nominal seller does not have or expect to have the stock or merchandise he purports to sell, nor does the nominal buyer expect to receive it or pay the price. Instead of that, a percentage or “margin” is paid, which is increased or diminished as the market rates go jlown or up and accounted for to the buyer. This is simple speculation and gambling; mere wagering on prices within a given time. King V. Quidnick Co., 14 R. I. 138. See Gaminq. FUTURI (Lat.). Those who are to be. Part of the commencement of old deeds. “Soiant prc Bsentes et futuri, quod ego, talis, dedi et conocssi," etc. (Let all men now living and to come know that I, A B, have, etc.). Bract. 84 6. FY6TWITE. One of the fines incurred

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

This term has grown out of those purely speculative transactions, in which there is a nominal contract of sale for future delivery, but where in fact none is ever intended or executed. The nominal seller does not have or expect to have the stock or merchandise he purports to sell, nor does the nominal buyer expect to receive it or to pay the price. Instead of that, a percentage or margin is paid, which is increased or diminished as the market rates go up or down, and accounted for in the buyer. King v. Quidnick Co., 14 R. I. 138; Lemon-ius v. Mayer, 71 Miss. 514, 14 South. 33; Plank v. Jackson, 128 Ind. 424, 26 N. E. 568.