Which of the Following Is True of an Option Contract

question 25

Multiple Choice

Which of the following is true of an option contract?

• A)If the offeree chooses not to buy the property,the consideration paid must be returned.
• B)The consideration paid for the option cannot be applied to the sale price.
• C)The death or incompetency of either party terminates an option contract.
• D)The offer cannot be revoked during the option period.

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Definitions:

Hemisphere Activity

involves the functions or processes occurring in the left and right hemispheres of the brain, which have different roles in control, emotion, and cognitive tasks.

Temperament Patterns

Inherited personality traits that appear early in life, influencing behaviors, emotions, and how individuals interact with their environment.

Intelligence

The capacity for learning, understanding, and applying knowledge, as well as the ability to reason, plan, solve problems, think abstractly, comprehend complex ideas, learn quickly, and learn from experience.

Achievement Tests

Assessments designed to measure a person's knowledge or proficiency in a particular area or skill.