All the statements below are correct, except:
A)An option contract is separate and distinct from the contract of sale.
B)An option contract must be supported by consideration distinct from the price.
C)An option contract can only be supported by consideration in the form of money.
D)An option contract can be supported by consideration in the form of an undertaking.

Question

Quizplus · Accepted Answer

An option contract can be supported by consideration in various forms, not just money. Consideration can include any value given by one party to another, such as an undertaking, service, or even another item of value.

All the Statements Below Are Correct, Except