1. What are some reasons why contract law is inadequate or inappropriate to govern futures transactions?
2. What are some reasons why it is not commercially feasible to establish futures contracts for assets like wine, tea, potatoes, aircraft fuel?
3. What are the characteristics that differentiate them from government bonds, oil, and some metals?
4. Which of the parties in the market prefers delivery over offset?
5. Identify some fundamental differences between options and futures.
6. What are the advantages and disadvantages of producing standardized agreements and documentations, especially in the context of the derivative industry?