Contracts
An option contract in Pennsylvania gives the optionee (buyer) the:
AObligation to purchase the property by the option date
BRight but not obligation to purchase the property within a specified period for a set price✓ Correct
CRight to occupy the property immediately upon signing
DRight to lease the property with mandatory purchase at lease end
Explanation
An option contract gives the optionee the exclusive right, for a consideration, to purchase the property at a specified price within a specified period. The optionee is not obligated to buy, but the optionor (seller) is bound to sell if the option is exercised.
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