MLchartDataset catalogue

Option contract

Term · Law · MLC-T-LAW-003564

A contract where an offeror agrees to keep an offer open for a specified period in exchange for consideration from the offeree. This creates an irrevocable offer that the offeror cannot withdraw before the stated expiration. The consideration for an option contract can be a nominal sum or other value.

Table 1. Record
IdentifierMLC-T-LAW-003564
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003564",
  "term": "Option contract",
  "field": "Law",
  "definition": "A contract where an offeror agrees to keep an offer open for a specified period in exchange for consideration from the offeree. This creates an irrevocable offer that the offeror cannot withdraw before the stated expiration. The consideration for an option contract can be a nominal sum or other value.",
  "url": "https://mlchart.com/terminology/law/option-contract/"
}

Record 3,558 of 5,439 in Law terminology (MLC-0107). Request the full dataset.