An option contract gives one of the parties an absolute right to enter into a second contract at a later date.
Correct Answer:
Verified
Q16: Negotiable instruments are examples of formal contracts.
Q17: Only the parties who signed the original
Q18: An executed contract is an agreement that
Q19: The effect of an implied contract is
Q20: A contract for an amount greater than
Q22: The subject matter of a contract may
Q23: A contract never can be both executory
Q24: Whenever a person receives a benefit for
Q25: When a contract sets a price for
Q26: The promisor in a contract may also
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