If You Pay $2,000 for a 60-Day Option on a Business

Multiple Choice

If you pay $2,000 for a 60-day option on a business that is offered for sale at $400,000, which of the following is true?

A) You have agreed to accept the offer of the business within the 60-day period
B) You have entered into a contract that allows you to get your money back if you don't accept after the 60 days
C) You have purchased a 60-day period of time within which you may or may not accept the offer
D) You have entered into two contracts, one for time and one for the purchase of business