Pete and Will Have an Option Contract for the Sale

question 49

Multiple Choice

Pete and Will have an option contract for the sale of some fresh vegetables.Jane and Ashley have an option contract for the sale of some books.Neither contract has an exact period of time specified in the option.The reasonable period of time implied is​ 

• A) ​the same for both contracts. 
• B) ​shorter for the vegetable contract than for the book contract. 
• C) ​longer for the vegetable contract than for the book contract. 
• D) ​determined by state laws.

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Definitions:

Company Check

A company check is a check issued by a business from its own account to pay for goods, services, or obligations.

Withdrawals

Amounts of money taken out from a business by its owners for personal use, reducing the owner's equity.

Parasympathetic Nerve

Nerves of the parasympathetic nervous system that help slow down the body's activity and allow the body to rest and digest.

Parasitic Worms

Organisms that live off of other organisms, causing harm to their hosts, and include species such as tapeworms, roundworms, and flukes.