If You Pay $1000 for a 90-Day Option on Property

question 23

Multiple Choice

If you pay $1000 for a 90-day option on property offered to you at $200,000, which of the following is true?

• A) You have bought a 90-day period of time within which you may or may not accept the offer of the land.
• B) With the signing of the option agreement, you have entered into two contracts-a contract for time and another for land.
• C) You have agreed that you will accept the offer of land within the 90-day period.
• D) If you do not exercise the option, you can get your $1000 back.
• E) The seller of the land can revoke the offer of the land any time before acceptance.

Learn about the restrictions and powers of courts in removing corporate directors.

Familiarize with terms and conditions related to tender offers and hostile takeovers.

Comprehend the liability of corporations for torts committed by its agents.

Understand the procedures and legal standards in board meetings and the responsibility of directors under various corporate governance models.

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Definitions:

Growth Mindset

A belief that abilities and intelligence can be developed through dedication and hard work, embracing challenges, and seeing failure as an opportunity for growth.

Fixed Mindset

A belief that one's abilities, intelligence, and talents are fixed traits and cannot significantly grow.

Entrepreneurial Mindset

The ability to quickly sense, take action, and get organized under uncertain conditions.

Uncertain Conditions

Situations or contexts characterized by unpredictability, variability, and the potential for unexpected changes or outcomes.