ContractsPregunta 65 de 120
An option contract gives the holder (optionee) the:
a.Right, but not the obligation, to buy within a set time and price
b.Obligation to purchase the property immediately
c.Right to occupy the property rent-free forever
d.Power to change the property's zoning
Explicación
An option contract gives the optionee the right, but not the obligation, to buy (or lease) property on set terms within a specified period. The optionor (owner) is bound to keep the offer open in exchange for consideration. If the option is not exercised, it simply expires.
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