Contracts
In North Dakota, a 'lease with option to purchase' must specify:
AOnly the rental terms
BThe option price or formula, option period, how the option is exercised, and what portion of rent (if any) applies toward the purchase price✓ Correct
COnly the landlord's name
DThe tenant's credit score
Explanation
A lease with option to purchase must clearly define the purchase price (or how it will be determined), the time period during which the option can be exercised, the method of exercise, and any rent credits. Ambiguous option terms can be unenforceable.
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