Answer:
Option
Explanation:
The contract that should include any potential options credits applied from monthly rent payments, how and when the option fee will be paid, the time frame or deadline for the option to expire, and if the option fee is refundable or not is the option. An option in contract law is simply a promise which meets the requirement for the formation of a contract and hence limits the individual who made the offer's ability to renege on the contract, it includes all contract requirements plus option fee, how option fee is paid, if the option fee is refundable.
