Contracts
A New Mexico lease that contains an option to purchase is best described as a:
ABilateral contract only
BUnilateral contract only
CCombination of a lease (bilateral) and option (unilateral)✓ Correct
DLand contract
Explanation
A lease-option combines a lease (bilateral—both parties have obligations) with an option to purchase (unilateral—only the seller is bound; the buyer may or may not exercise it).
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