CONSIDERATIONS ON THE OPTION PACT RELATED TO THE SALES-PURCHASING CONTRACT

Ilie Urs

Abstract


The option pact of the sales-purchasing contract is a version of the common law option pact. The option pact on the sales-purchasing contract is a contract whereby one of the parties makes an irrefutable offer to sell to the other party, called beneficiary, who can either accept or deny it within a certain period of time. The option exercise by the beneficiary in accepting the sales offer forms the final sale only beginning with the option exercise date. The formation of the sales-purchasing contract does not retroactively go through the day of the option pact because at that time the beneficiary did not agree to purchase the asset but only agreed with the other party to become the holder of a right of option. From the option exercise date to the acceptance of the offer of sale, the beneficiary is also hired. For example, in the case of the option pact for the sale of a particular individual asset, the beneficiary becomes the owner of the property right and has to pay its price.


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