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:

Printer

A device that transfers text and images from a computer onto paper or other media.

Hardware

The physical components of a computer system, such as the CPU, memory, and input/output devices.

IT

Information Technology, which involves the use of computers, storage, networking, and other physical devices, infrastructure and processes to create, process, store, secure, and exchange all forms of electronic data.

Law Enforcement

The system by which certain members of society act in an organized manner to enforce the law by discovering, deterring, rehabilitating, or punishing people who violate the rules and norms governing that society.