Contracts
An option contract in California real estate gives the optionee the right to:
APurchase the property at any price they choose
BPurchase the property at a fixed price within a specified time period✓ Correct
CCompel the seller to reduce the price
DAssign the property to any third party without consent
Explanation
An option contract gives the optionee (buyer) the exclusive right — but not the obligation — to purchase the property at a predetermined price within a set time frame. The optionor (seller) is bound during the option period; the optionee may choose whether or not to exercise the option.
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