An Option Contract Is Created When the Offeree Gives the Offeror

question 36

True/False

An option contract is created when the offeree gives the offeror something of value in exchange for a promise not to revoke the offer for a stated period of time.

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Definitions:

Corporate Taxes

Taxes imposed on the income or profit of corporations by the government.

Paying

The act of giving money in exchange for goods, services, or to settle debts.

Green Product

Goods that are environmentally friendly or less harmful to the environment, often made from sustainable resources or employing eco-conscious production methods.

Environmentally Friendly

Being environmentally friendly involves practices and products that cause minimal harm to the environment, aiming to reduce pollution and conserve resources.