Contracts第 57 / 100 题
An option contract gives the optionee:
a.An obligation to purchase the property
b.The right to lease only
c.Immediate ownership of the property
d.The right, but not the obligation, to buy within a set period
解析
An option contract grants the optionee the right to buy the property at agreed terms within a specified time, without any obligation to do so. The optionor (owner) must keep the offer open in exchange for consideration. If the option is not exercised, it simply expires.
免费刷完整 100 道题库 — 无需注册。
同考点相关题目
- The substitution of a new contract or new party for an existing one, releasing the original obligation, is called:
- A 'time is of the essence' clause in a contract means that:
- If a buyer breaches a real estate contract, a liquidated damages clause typically allows the seller to:
- A listing agreement in which the broker earns a commission regardless of who sells the property, even the owner, is a(n):
- In an exclusive agency listing, the seller may avoid paying the broker's commission if:
- A net listing, which is discouraged or restricted in many states, is one where the broker's commission is: