Question

Sylvan, the seller, and Eric, the buyer, have signed an option agreement, which is an offer to purchase a specific piece of real estate without the obligation to buy it. Until Eric exercises his option to buy, only Sylvan is bound by the option agreement; he may not sell the property to anyone else during the option period. What type of contract is this

Answer 1

Answer:

"Unilateral" would be the right choice.

Explanation:

• A contract wherein the assessment would be offered less than by several other party candidates is indeed a unilateral document. In several other sentences, aware of the side effects in one less manner.
• One such kind of decisionmaker has been begun taking by one of the other factions, government agencies, or regions associated with a specific situation, another without consent of everybody else.