Contracts
An option contract in Arizona gives the buyer:
AThe obligation to purchase property at a set price within a time period
BThe right, but not the obligation, to purchase property at a set price within a time period✓ Correct
CThe right to lease a property with no purchase commitment
DEquitable title immediately upon signing
Explanation
An option contract grants the buyer the right, but not the obligation, to purchase property at an agreed price within a specified period. The seller is bound to sell; the buyer is not bound to buy.
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