Contracts
In Hawaii, an 'option contract' obligates which party to perform?
ABoth buyer and seller equally
BOnly the seller, to keep the offer open; the buyer is not obligated to purchase✓ Correct
COnly the buyer to purchase within the option period
DNeither party until the option is exercised
Explanation
In an option contract, the seller (optionor) is bound to keep the offer open and sell at the agreed price if the buyer (optionee) exercises the option. The buyer has no obligation to purchase.
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