Asked by
ethan zapien
on Nov 01, 2024
Verified
An option contract:
A) removes the possibility of revocation through death or insanity of the offeror.
B) is valid only if in return for the agreement to hold the offer open,the offeror receives no money or something else of value from the offeree.
C) is a contract that permits a party to lease real property while at the same time holding an option to purchase that property.
D) is an agreement that binds an offeror to a promise to hold open an offer with no time limit specified.
Option Contract
A contract granting the holder the right, but not the obligation, to buy or sell an asset at a specified price on or before a specified date.
Revocation
The calling back of an offer by the offeror.
Real Property
Land and anything permanently attached to it, such as buildings and structures.
- Attain an understanding of the core principles and norms of contract law.
- Recognize the conditions under which a contract is formed, including the offer, acceptance, and consideration aspects.
Verified Answer
GS
Learning Objectives
- Attain an understanding of the core principles and norms of contract law.
- Recognize the conditions under which a contract is formed, including the offer, acceptance, and consideration aspects.