Contracts
A Wisconsin option contract gives the buyer the right but not the obligation to purchase a property within a specified period. The seller:
ACan sell the property to someone else during the option period
BIs bound by the option and cannot sell to another buyer during the option period✓ Correct
CCan terminate the option at any time
DMust reduce the price if the market declines
Explanation
An option contract binds the seller — they cannot sell to another buyer during the option period. The buyer, however, is not obligated to exercise the option.
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