Contracts
In South Carolina, an 'option contract' in real estate gives the optionee the:
AObligation to purchase the property
BRight, but not the obligation, to purchase property at a set price within a specified period✓ Correct
CRight to force the seller to lower the price
DAutomatic ownership of the property after the option period
Explanation
An option contract grants the buyer (optionee) the exclusive right to purchase property at an agreed price within a specified time frame. The optionee pays option consideration but is not obligated to buy — only the seller is bound during the option period.
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