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Business, 22.01.2021 01:00 Buttercream16

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

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Sylvan, the seller, and Eric, the buyer, have signed an option agreement, which is an offer to purch...

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