Before Glenn died, he had an option contract with Jerome. The administrator of Glenn's estate ________
A) must hold the offer open until it expires in accordance with the contract.
B) is not obligated to hold the offer open to Jerome since Glenn died.
C) can decide if he or she wants to keep the option contract with Jerome.
D) must seek a court's permission to honor the option contract.
E) the estate's heirs can decide to hold the option contract open.

Question

Quizplus · Accepted Answer

Option contracts are binding agreements that remain effective even if the offeror dies. The administrator of the deceased's estate is required to honor the terms of the option contract until it expires.

Before Glenn Died, He Had an Option Contract with Jerome