Which of the Following Is True About an Option Contract

question 42

Multiple Choice

Which of the following is true about an option contract?

• A)If the offeree chooses not to buy the property then money paid in consideration must be returned.
• B)If money is paid as consideration, then that is not applied to the sale price.
• C)Death or incompetency of either party terminates an option contract.
• D)The offer cannot be revoke during the option period.

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Definitions:

National History

The recorded events, developments, and narratives that form and define the identity, heritage, and past of a nation or country.

Empires

Extensive groups of states or countries ruled over by a single monarch, an oligarchy, or a sovereign state.

Nations

Nations are large groups of people who share a common identity, history, culture, or language, often possessing or seeking their own government and territory.

Free Labor Ideology

The belief that labor should be conducted freely and characterized by a fair exchange of work for wages, underpinning much of the anti-slavery movement in the United States before the Civil War.