All of the following statements regarding options are true, except:
A: Some consideration must pass from optionee to optionor;
B: In a lease/option, provisions of the lease are, themselves, sufficient consideration to support the option;
C: The option binds the optionee to performance;
D: Option rights do not give the optionee any "rights in the land."
Answer: C: The option binds the optionee to performance;
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Explain the doctrine of equity with reference to contracts
What will be an ideal response?
Compensatory damages are awarded ________
A) to a party based on the amount stipulated in a clause in the contract B) to place the injured party in the position it would have been in had the terms of the contract been performed C) to deter the defendant and others from doing the same act again D) to help a party recover court costs if it is injured by a breach of contract but cannot show real damages