Contracts
An option contract in Indiana gives the buyer:
AAn obligation to purchase the property at the stated price
BThe exclusive right, but not obligation, to purchase at an agreed price within a specified period✓ Correct
CThe right to lease the property with an option to renew
DThe right to list the property for sale
Explanation
An option contract grants the buyer (optionee) the right — but not the obligation — to purchase the property at a set price within a specified period. The option consideration is generally non-refundable if the buyer does not exercise the option.
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