An Option Contract

question 5

Multiple Choice

An option contract:

• A)removes the possibility of revocation through death or insanity of the offeror.
• B)is valid only if in return for the agreement to hold the offer open,the offeror receives no money or something else of value from the offeree.
• C)is a contract that permits a party to lease real property while at the same time holding an option to purchase that property.
• D)is an agreement that binds an offeror to a promise to hold open an offer with no time limit specified.

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Definitions:

Operating Approaches

Strategies and methods employed in the daily management and functioning of an organization or system.

Work Responsibilities

The duties and tasks that are expected to be carried out by an individual or a team within their job or role.

Family Business Feud

A significant dispute or conflict among family members involved in a family-owned business, often affecting both the personal relationships and the operation of the business.

Ethical Dilemma

A situation that offers potential benefit or gain and that may also be considered unethical.