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LSDefine

Simple English definitions for legal terms

option

Read a random definition: consideration

A quick definition of option:

An option is an agreement that gives someone the right to buy something or do something in the future, but they don't have to if they don't want to. It's like having a special ticket that lets you buy something at a certain price or time, but you don't have to use it if you don't want to. Options can be used for things like buying property, stocks, or other things.

A more thorough explanation:

An option is a type of agreement that gives someone the right to buy or sell something in the future, according to specific terms that have been agreed upon. This can include property, stocks, or other assets.

For example, if someone has an option to buy a house, they have the right to purchase the house at a specific price within a certain timeframe. However, they are not obligated to buy the house if they choose not to.

Similarly, if someone has a stock option, they have the right to buy a certain number of shares of a company's stock at a specific price within a certain timeframe. Again, they are not obligated to buy the shares if they choose not to.

Overall, an option is a way for someone to have the right to buy or sell something in the future, without being obligated to do so.

opinion | Option ARM

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Mostlylegal
18:04
Another day another no A
Yeah i got shit on last week so weird to go crickets this week
@ParallelAgreeableOrangutan: also ty I just sent a LOCI in email form. hope they don't hate it lmfao
18:05
Penn Dick gave me the R
what kind of a name is penn Carey law anyway
18:06
Penn gon Carry u to meat market that is the legal career field
18:06
Buy 1 get 1, Penn Carey Grads, get em while they are hot!
18:14
Notre Dame is crushing my soul
18:14
So excited every Friday
NosyBeagle
18:20
i talked to such a nice rep for penn dick like years ago and i put them on my list
NosyBeagle
18:20
God bless that lady
Mostlylegal
18:34
Legit makes no sense that nd has accepted literally nobody still
18:35
manybe ND is taking a sabbatical?
got a gw wl->A!!!
NosyBeagle
18:46
yay! congrats
nice kiwi!!!!!
is that your first a?! :D
yes it is!! thanks guys
ugh so stoked for you
Did they give you scholly information???\
yeah they gave me 150k!
(not gendered) girl CONGRATS
you gonna go? :D
yeah I think so!! my goal was either nyc or dc so im super happy w it
so stoked for you. congrats. i imagine your previous decisions had been a little crushing. very happy your app got the recognition it deserved
18:55
@RoyalReadyKiwi: lessgo stay winning :D awesome work!!!
thank you so much guys!!! means a lot :D
CONGRATS ROYAL YASSSS
i feel like i live in my bubble because i'm seeing people talk about other people abusing time accommodations for the lsat and my first reaction was "they are?"
ronniedoeslaw
20:14
Congrats Kiwi!!
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