Contracts
Which of the following is an example of an 'option contract' in Louisiana real estate?
AA binding promise by both buyer and seller to complete a sale
BA unilateral contract giving the buyer the right, but not the obligation, to purchase within a set period✓ Correct
CA lease agreement with rent-to-own provisions
DA contract contingent on the buyer obtaining financing
Explanation
An option contract is a unilateral contract in which the seller grants the buyer the right (but not the obligation) to purchase the property within a specified period at an agreed price.
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