Which statement about options is FALSE?
A. Consideration is necessary for a valid option.
B. The optionee has the option to exercise or refrain from exercising the option.
C. The optionor can revoke the option by returning the consideration.
D. Options can be assigned unless personal in nature or prohibited by the option terms.
Answer: C. The optionor can revoke the option by returning the consideration.
Business
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To be enforceable, a written lease must
A. describe the premises. B. be signed by the lessor. C. be both of these. D. be neither of these.
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A cloud on the title is
a. not important. b. easily remedied. c. no impediment to a property sale. d. a possible impediment to a property sale.
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