You deal over the phone with a counterparty. The subsequent confirmation differs from the terms agreed verbally. What is the result?
A) The confirmation takes precedence as it is a written contract.
B) The matter will have to be submitted to arbitration in order to establish the mutual intent of the parties.
C) It depends on local law.
D) The verbal agreement is binding.

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The Answer of You deal over the phone with a counterparty. The subsequent confirmation differs from the terms agreed verbally. What is the result?
A) The confirmation takes precedence as it is a written contract.
B) The matter will have to be submitted to arbitration in order to establish the mutual intent of the parties.
C) It depends on local law.
D) The verbal agreement is binding.

You Deal Over the Phone with a Counterparty