While looking for apartments,Brittany finds one that she likes.The building manager agrees to an option contract in which he will hold the apartment for Brittany for four days in return for $100.At the end of the fourth day,Brittany finds another apartment that she likes better and signs a lease with its building manager.Because Brittany's contract with the original building manager is an option contract,the building manager is under:

Question

Quizplus · Accepted Answer

Option contracts involve a payment for the exclusive right to make a decision by a certain time. If Brittany chooses another apartment, the manager keeps the $100 as compensation for holding the apartment and not renting it to someone else during the option period.

While Looking for Apartments,Brittany Finds One That She Likes