An Option Agreement Is

question 184

Multiple Choice

An option agreement is

• A) 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.
• B) a contract that provides that a debtor will transfer title in property to a creditor as security for repayment of the debt.
• C) a contract transferring the fee simple to a new owner.
• D) a contract by which an offeree promises to buy the property offered at a later date set in the contract.
• 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:

Product Market

The marketplace in which final goods or services are offered for purchase by consumers, businesses, and the public sector.

Monopsonist

A market condition in which there is only one buyer for a particular product or service.

Labor Market

The supply and demand for labor, where employers seek workers and employees seek jobs.

Workers Hired

The number of employees that a company or organization employs or brings onboard to perform specific jobs.