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Cliff Agrees with Sarah to Extend the Closing Date of the Purchase

Question 34

Multiple Choice

Cliff agrees with Sarah to extend the closing date of the purchase of his house for one week. Sarah agrees to pay Cliff $1,000 for this extension. This extension term is called:


A) an offer.
B) an option
C) a conditional term
D) an acceptance
E) an extension offer

Correct Answer:

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