Mary is selling her house for $100,000 and Felipe, who is expecting an inheritance soon, wants to have the option to buy it next month at that price. Felipe gives Mary a $1,000 deposit in exchange for Mary's promise that he can buy the house next month at $100,000 if he gets his inheritance. Mary and Felipe:
A) Do not have a contract because Felipe has not promised to buy.
B) Do not have a contract because Felipe does not have the money yet.
C) Have a standard sales contract.
D) Have an option contract.
E) Have an adhesion contract.
Correct Answer:
Verified
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