Contracts
In Alaska, an option contract grants the optionee:
AThe obligation to purchase the property at the stated price
BThe right but not the obligation to purchase the property within a specified period✓ Correct
CThe right to list the property for sale
DImmediate title to the property
Explanation
An option contract gives the optionee (buyer) the exclusive right to purchase the property at an agreed price within a specified time period but does not obligate them to do so. The optionor (seller) is bound to sell if the option is exercised.
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