Contracts
An option contract in Vermont real estate gives the buyer:
AThe obligation to purchase the property at the stated price
BThe right, but not obligation, to purchase the property within a specified time for a stated price✓ Correct
CThe right to list the property for sale
DPriority over other buyers regardless of price
Explanation
An option contract gives the buyer (optionee) the right but not the obligation to purchase the property at a specified price within a specified period. The seller (optionor) is bound to sell if the option is exercised.
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