Chicago Board of Trade v. Christie Grain & Stock Co.

Chicago Board of Trade v. Christie Grain & Stock Co., 198 U.S. 236  (1905),  was a decision by the  United States Supreme Court,  which upheld sales of  American  grain for future delivery provided for by the rules of the  Chicago Board of Trade  of the state of Illinois. Justice Oliver Wendell Holmes Jr. delivered the majority opinion of the court, in which he wrote:

"People will endeavor to forecast the future and to make agreements according to their prophecy."