Define: Ringing Up

Ringing Up
Ringing Up
Quick Summary of Ringing Up

Ringing up is a method used by traders to finalize contracts for future delivery without physically exchanging the goods. This is achieved by modifying or canceling the contract prices, thereby avoiding the expenses associated with delivering and taking ownership of the commodities. It can be likened to retracting a deal before it becomes irreversible.

Full Definition Of Ringing Up

Ringing up, also known as ringing out, is a method utilised by commodities dealers to settle contracts for future delivery in advance. This is achieved through offsets, cancellations, and price adjustments, which eliminates the need for actual delivery and change of possession. For example, if a commodities dealer has a contract to deliver 100 barrels of oil in three months, they can use ringing up to settle the contract without physically delivering the oil. This can be done by offsetting the contract with a lower-priced contract for the same amount of oil, canceling the contract altogether, or adjusting the price to reflect the current market value of the oil. This method allows commodities dealers to manage their risk and avoid the costs associated with physical delivery, making it a common practice in the commodities market.

Ringing Up FAQ'S

Ringing up refers to the act of formally charging someone with a crime or offense.

Only law enforcement officials, such as police officers or prosecutors, have the authority to ring someone up.

The process typically involves gathering evidence, conducting an investigation, and then formally charging the individual with the crime through a legal document called an indictment or information.

Yes, it is possible for someone to be wrongfully charged with a crime. In such cases, the accused individual has the right to defend themselves and present evidence to prove their innocence.

After being ringed up, the accused individual will go through the legal process, which may include arraignment, pre-trial hearings, trial, and potential sentencing if found guilty.

Yes, unfortunately, wrongful convictions can occur. However, the legal system provides mechanisms for appeals and post-conviction relief to rectify such errors.

In order to ring someone up, there must be sufficient evidence to establish probable cause that the individual committed the crime. Without evidence, it is unlikely for someone to be formally charged.

While the victim’s cooperation is often crucial in criminal cases, it is ultimately up to the prosecuting authority to decide whether to proceed with charges, regardless of the victim’s wishes.

Self-defence is a valid legal defence in many jurisdictions. If someone can demonstrate that they acted in reasonable self-defence, they may not be ringed up or may be acquitted if charged.

Minors can be ringed up for crimes, but the legal system often treats them differently. Juvenile courts typically handle cases involving minors, and the focus is often on rehabilitation rather than punishment.

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Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 17th April 2024.

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