Contracts
An option period in a Missouri purchase contract gives the buyer:
AThe obligation to proceed with the purchase
BA specified time to perform due diligence and decide whether to proceed✓ Correct
CAn automatic extension of the closing date
DThe right to renegotiate the price at any time
Explanation
An option period (often called an inspection period) gives the buyer a specified time to conduct inspections and due diligence. During this period, the buyer can typically cancel without penalty.
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