An optionor and optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform?

He must exercise his option under the terms of the option contract. Illumination: Options are generally concerned with only two things: time and price. He must exercise his option under the terms of the option contract

i think it can have both positive and negative effects on businesses.

for example:

lets say you own a small business and taxes go up 4% that means it is going to cost your business more money to buy product to sell. but at the same time you make more money from the tax rise.

that is my theory.