An Option Agreement Is

question 90

Multiple Choice

An option agreement is

• A) a contract transferring the fee simple to a new owner.
• B) a contract by which the offeror of property promises to hold his offer open for a period of time during which the offeree can accept the offer and the property can't be sold to another.
• C) a contract by which an offeree promises to buy the property offered at a later date set in the contract.
• D) a contract that provides that a seller will retain the title in the property until the buyer has made all of the required payments.
• E) a contract that provides that a debtor will transfer title in the property to a creditor as security for repayment of the debt.

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Definitions:

Coefficient of Alienation

A statistical measure that represents the amount of variation in one variable that is not accounted for by its relationship with another variable.

Positive Slope

An upward trend in a line graph indicating an increase in one variable as another variable increases.

Xy Axis

The two perpendicular lines in a cartesian coordinate system that define the horizontal and vertical dimensions for plotting points in a plane.

Positive Correlation

A statistical relationship where two variables move in tandem; as one variable increases, the other does as well.