A Futures Contract

A futures contract

A) is an agreement to buy or sell a specified amount of an asset at the spot price on the expiration date of the contract.
B) is an agreement to buy or sell a specified amount of an asset at a predetermined price on the expiration date of the contract.
C) gives the buyer the right, but not the obligation, to buy an asset sometime in the future.
D) is a contract to be signed in the future by the buyer and the seller of the commodity.