Contracts
In Louisiana, what is the term for an agreement to sell that binds both parties to complete a transaction in the future?
AOption to purchase
BPromesse de vente (promise of sale)✓ Correct
CRight of first refusal
DEarnest money contract
Explanation
A promesse de vente (promise of sale) in Louisiana is a binding agreement in which both parties obligate themselves to complete the sale, similar to a purchase agreement in other states.
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