Contracts
An option contract in Arizona gives the optionee (buyer) the:
AObligation to purchase the property within the option period
BRight, but not the obligation, to purchase the property at a set price within a set time✓ Correct
CRight to sublease the property during the option period
DRight to purchase the property at any future date at market value
Explanation
An option contract grants the optionee the exclusive right — but not the obligation — to purchase the property at a predetermined price within a specified time period. The seller is bound; the buyer is not.
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