Contracts
In Vermont, an option contract gives the optionee (buyer) the:
AObligation to purchase the property by a specified date
BRight but not the obligation to purchase the property within a specified period✓ Correct
CRight to lease the property with an automatic purchase option
DRight to assign the seller's obligations to a third party
Explanation
An option contract gives the optionee the right, but not the obligation, to purchase property within a specified time period at an agreed price. The optionor (seller) is bound to sell if the optionee exercises the option.
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