An Option to Purchase Agreement Is

question 47

Multiple Choice

An option to purchase agreement is:

• A)A contract by which an offeree promises to buy the property offered at a later date set in the contract
• 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 that provides that a debtor will transfer title in property to a creditor as security for repayment of the debt
• D)A contract transferring the fee simple to a new owner
• E)A contract that provides that a seller will retain the title in the property until the buyer has made all of the required payments

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Definitions:

Direct Order

A command given with clear and exact directions, leaving no room for misunderstanding or alternative interpretation.

Executive Summary

A concise summary of a report or proposal highlighting the main points and conclusions, aimed at capturing the reader's attention.

Letter Of Transmittal

A formal document accompanying a report, proposal, or similar documents, summarizing the contents and purpose.

Indirect Order

A communication technique where important information or bad news is preceded by an explanation or background information.