option to purchase real property

A contract by which an owner of realty enters an agreement with another allowing the latter to buy the property at a specified price within a specified time, or within a reasonable time in the future, but without imposing an obligation to purchase upon the person to whom it is given. [Cases: Vendor and Purchaser 18. C.J.S. Vendor and Purchaser §§ 98, 115.]
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译员Terence,毕业于国内顶尖法学院,擅长翻译有关能源和自然资源领域的法律文件。
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