Contracts
In Missouri, an option contract gives the buyer:
AThe obligation to purchase the property
BThe right but not the obligation to purchase the property within a specified time✓ Correct
CA guaranteed mortgage at a fixed rate
DImmediate ownership of the property
Explanation
An option contract in Missouri gives the optionee (buyer) the right to purchase property at a set price within a specified period. The optionee pays consideration for this right but is not obligated to exercise it.
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