Morgan wanted to obtain a 60-day option so that he could purchase a parcel of real property for $18,000. However, he wanted to pay only $1 for it. If this option were drawn and duly signed by the parties, it would be:

A: Invalid because of the 60-day length of time;
B: Invalid because $1 is not adequate consideration;
C: Valid if the $1 was actually delivered;
D: Valid even if the $1 that was referred to was not actually received by the owner.

Answer: C: Valid if the $1 was actually delivered;