Which of the Following Is True About an Option Contract

question 91

Multiple Choice

Which of the following is true about an option contract?

• A) If the offeree chooses not to buy the property, the 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 revoked during the option period.

---

Definitions:

Socioeconomic Class

A division of society based on social and economic status, affecting access to resources and opportunities.

Social Media

Platforms and technologies that enable users to create, share content, and participate in social networking.

Cyberbullying

The use of electronic media (web pages, social networking sites, e-mail, Twitter, cell phones) to tease, harass, threaten, or humiliate someone.

Identity Theft

The fraudulent acquisition and use of a person's private identifying information, often for financial gain.