Contracts
In South Dakota, a real estate option contract gives the optionee the right to purchase a property, but the optionor (property owner) is:
AFree to sell to anyone during the option period
BObligated to sell only to the optionee if the option is exercised within the option period✓ Correct
CObligated to keep the property listed for sale during the option period
DReleased from all obligations if the option premium was nominal
Explanation
During the option period, the optionor (owner) is bound to keep the offer open and cannot sell to anyone else. If the optionee exercises the option, the optionor must sell on the agreed terms.
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