Contracts
An option contract in Massachusetts gives the optionee the:
AObligation to purchase the property
BRight but not the obligation to purchase at a specified price within a set time✓ Correct
CFirst right of refusal on any future sale
DRight to lease the property for a fixed term
Explanation
An option contract gives the optionee the right (but not the obligation) to purchase the property at an agreed price within a specified time period. The optionor is bound; the optionee is not.
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