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An option contract, or simply option, is defined as "a promise which meets the requirements for the formation of a contract and limits the promisor's power to revoke an offer". Option contracts are common in relation to property (see below) and in professional sports.
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option contract contracts consideration performance offer promisor promisee revoke law unilateral see still common offeree property theory provides cannot form
| Subject | Predicate | Object | Confidence | Src |
|---|---|---|---|---|
| Option contract | is a | type of contract that protects an offeree from an offeror's ability to revoke their offer to engage in a contract.Under the common law | 0.90 | text |
| by rendering other performance or forbearance | instance of | an offeree can provide consideration for the option contract by paying money for the contract or by providing value in some other form | 0.80 | text |
| Option contract | related to Application of option contract in unilateral contracts | The | 0.60 | section |
| Option contract | related to Application of option contract in unilateral contracts | In | 0.60 | section |
| Option contract | related to Application of option contract in unilateral contracts | This | 0.60 | section |
| Option contract | related to Application of option contract in unilateral contracts | Once | 0.60 | section |
| Option contract | related to Application of option contract in unilateral contracts | With | 0.60 | section |
| Option contract | related to Application of option contract in unilateral contracts | So | 0.60 | section |
| Option contract | related to Assignability | It | 0.60 | section |
| Option contract | related to Assignability | However | 0.60 | section |
| Option contract | related to Contract theory | In | 0.60 | section |
| Option contract | related to Contract theory | Oliver Hart | 0.60 | section |
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