When the Owner of a Piece of Leased Property Gives

question 2

Multiple Choice

When the owner of a piece of leased property gives the lessee an option to buy, the option:

• A) requires the optionee to complete the sale
• B) is a lien on the seller's title
• C) requires no consideration or fee
• D) is not a purchase contract until exercised

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Definitions:

Treasury Stock

Shares that were once part of the open market stock but were bought back by the issuing company, reducing the amount of outstanding stock.

Quorum

The minimum number of members required to be present at a meeting to make the proceedings of that meeting valid.

Shareholder Agreement

A contract among shareholders of a company outlining their rights, obligations, and mutual agreements regarding company operations and governance.

Duration

The length of time during which something exists or continues.