An Option Contract Is a Binding Promise to Keep an Offer

question 16

True/False

An option contract is a binding promise to keep an offer open for a stated period of time or until a specified date.

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Definitions:

Manager

An individual responsible for controlling or administering all or part of a company or similar organization, directing operations, and making key decisions.

Workforce Options

The range of employment possibilities and arrangements available to manage and utilize human resources effectively.

Employment-At-Will Doctrine

A legal principle stating that an employment relationship can be terminated at any time by either the employer or the employee for any reason not prohibited by law.

Termination

The process of ending employment or concluding an engagement or agreement.