An Option Contract Requires the Offeror To

question 466

Multiple Choice

An option contract requires the offeror to:

• A) keep an offer open for a specified period of time
• B) offer more than one option
• C) keep an offer under a certain price
• D) limit an offer to a certain number of offerees
• E) give at least a day's notice before withdrawing the offer

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Definitions:

Schematic

A diagram that represents the elements of a system using abstract, graphic symbols rather than realistic pictures.

Movement Of People

The collective migration or travel of individuals or groups from one location to another, relevant in various contexts including economics, urban planning, and sociology.

Labour Standards

Established benchmarks for the amount of time required for a worker to complete specific tasks.

Labour Content

The total amount of work effort, measured in labor hours or cost, required to produce a unit of product or service.