If You Pay $2,000 for a 60-Day Option on a Business

question 47

Multiple Choice

If you pay $2,000 for a 60-day option on a business that is offered for sale at $400,000, which of the following is true?

• A) You have agreed to accept the offer of the business within the 60-day period
• B) You have entered into a contract that allows you to get your money back if you don't accept after the 60 days
• C) You have purchased a 60-day period of time within which you may or may not accept the offer
• D) You have entered into two contracts, one for time and one for the purchase of business

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Definitions:

Recognition

The acknowledgment or appreciation of an individual's or group's achievements, efforts, or qualities.

Community Relations

The practice of maintaining and fostering a positive relationship between an organization and the communities it operates within.

PR Professional

An individual specializing in public relations, responsible for managing and guiding the public image of organizations or individuals.

Surrounding Community

The population living in the vicinity of a business or organization, which can be affected by its operations and decisions.