Contracts
When a Texas buyer enters into an option contract for a property, the 'consideration' for the option itself is:
AThe full purchase price
BThe option fee paid by the buyer to the seller for the right to purchase✓ Correct
CThe earnest money deposit
DThe down payment amount
Explanation
An option contract must have consideration to be enforceable. The option fee (paid by the buyer to the seller) is the consideration that binds the seller during the option period and gives the buyer the exclusive right to purchase.
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