I’ve Got a Contract

A. D. P. Edwards

Chapter 16 in The Exporter’s & Importer’s Handbook on Foreign Currencies, 1990, pp 80-80 from Palgrave Macmillan

Abstract: Abstract This is a statement which is heard very often but which is not often exactly true. The salesman may consider that the arrangement he has with his buyer constitutes a contract, whereas it may only state the buyer’s intention, albeit his hopeful intention. If it is relied on, however, and the currency sold forward it could lead to an embarrassing situation if the buyer’s hopes are not fulfilled This kind of situation highlights the need to apply the basic disciplines which may best be illustrated by using the simile of electricity. If misused or mishandled an electric circuit hopefully will only blow a fuse. It could, however, cause a fire or even worse, an explosion. With this knowledge we have come to know that there must be a disciplined approach to matters electric. In exactly the same way, matters of foreign exchange require a disciplined approach in order to avoid embarrassment, let alone fire or explosion.

Keywords: International Economic; Electric Circuit; Foreign Exchange; Foreign Currency; Exchange Aspect (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11852-6_17

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DOI: 10.1007/978-1-349-11852-6_17

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