Practice question
An option principally gives its holder what?
- The right to decide whether to accept the specified offer within the agreed framework
- Automatic ownership before exercise in every case
- An obligation to buy regardless of exercise
- Power to choose any unrelated property
- A right to disregard every legal qualification
Legal references
- Civil Code Articles 1324 and 1479: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
- PNOC v. Keppel Philippines Holdings, GR 202050, July 25, 2016, main decision: https://lawphil.net/judjuris/juri2016/jul2016/gr_202050_2016.html
- F.F. Cruz & Company v. NMC Container Lines, GR 270449, August 11, 2025, main decision: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/1/70224
Answer this question in flashcards to review your response and continue practicing.