Option Contracts Are Used to Reserve a Parcel of Land

question 7

True/False

Option contracts are used to reserve a parcel of land so that it will not be sold to someone else,while the developer does preliminary analysis of the site.

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Definitions:

Mere Exposure Effect

A psychological effect in which people show a preference for items or concepts they recognize simply because they know them.

Two-factor Theory of Emotion

A psychological theory that proposes emotions are based on physiological arousal and cognitive labeling of that arousal.

Aerobic Exercises

Physical exercises that involve or improve oxygen consumption by the body, enhancing cardiovascular conditioning and endurance.

Romantic Feelings

Emotions associated with love, affection, and strong personal attachment toward another person, typically characterized by desire and intimacy.