option legal definition

noun

noun

noun

noun

verb

1. The power or right to make a choice.
2. A contract to keep an offer open for a specified period of time so that the person making the offer cannot suddenly withdraw it during that period.
3. The right carried by that contract.
4. The right to sell or buy a certain number of stocks or bond at a set price within a specified time period.
5. To give or take an option on something.