A[n] _______ is where the offeror agrees to hold an offer open and not to enter into a contract with another party for a certain period of time in exchange for consideration.
A) a divisible contract
B) option contract
C) a severable contract
D) a voidable contract

Question

Quizplus · Accepted Answer

A) An option contract occurs when the offeror agrees to hold the offer for a specific
offeree in exchange for something of value (consideration).
A) An option contract occurs when the offeror agrees to hold the offer for a specific offeree in exchange for something of value (consideration).
B) An option contract occurs when the offeror agrees to hold the offer for a specific offeree in exchange for something of value (consideration).
C) An option contract occurs when the offeror agrees to hold the offer for a specific offeree in exchange for something of value (consideration).

A[n] _______ Is Where the Offeror Agrees to Hold an Offer