Contracts
In Mississippi, an option contract gives the optionee (buyer) the right to:
ARequire the seller to lower the price
BPurchase the property at an agreed price within a specified time period✓ Correct
CAutomatically close the transaction at the end of the option period
DAssign the option only with seller's approval
Explanation
An option contract gives the optionee the exclusive right to purchase a property at a set price within a specified period. The seller is bound to sell but the buyer is not obligated to purchase.
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