Contracts
In Wyoming, an option contract gives the buyer:
AThe obligation to purchase the property during the option period
BThe right to purchase the property at a set price within a specific period without the obligation to do so✓ Correct
CThe right to negotiate new terms at any time
DEqual rights to the seller to cancel the agreement
Explanation
An option contract gives the buyer (optionee) the exclusive right to purchase the property at a set price within a specified period. The buyer pays option consideration for this right but is not obligated to exercise the option.
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