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Questions and Answers
What is a pacta de contrahendo?
What is a pacta de contrahendo?
A contract aimed at the conclusion of another contract.
Define an option in the context of contracts.
Define an option in the context of contracts.
An agreement restricting an offeror's right to revoke an offer.
What is the main characteristic of an option?
What is the main characteristic of an option?
An option renders the offer irrevocable for a certain period of time.
Can an option be granted gratuitously?
Can an option be granted gratuitously?
What are the two parts of an option?
What are the two parts of an option?
How can an option be described in terms of revocation?
How can an option be described in terms of revocation?
How can an ordinary revocable offer be terminated?
How can an ordinary revocable offer be terminated?
What makes an offer irrevocable under Pacta de contrahendo?
What makes an offer irrevocable under Pacta de contrahendo?
What happens if an option does not specify a time period for exercising it?
What happens if an option does not specify a time period for exercising it?
When does the death of either party NOT terminate an option?
When does the death of either party NOT terminate an option?
What is the general rule for the transferability of options through cession?
What is the general rule for the transferability of options through cession?
What are the two conditions to be observed in an option?
What are the two conditions to be observed in an option?
What is a preference contract?
What is a preference contract?
What is the key difference between an option and a pre-emptive right?
What is the key difference between an option and a pre-emptive right?
What are the remedies for breach of an option?
What are the remedies for breach of an option?
Is compliance with formalities required for preference contracts?
Is compliance with formalities required for preference contracts?
What is the principle of pacta de contrahendo in relation to options?
What is the principle of pacta de contrahendo in relation to options?
What does the grantee acquire in a pre-emptive right?
What does the grantee acquire in a pre-emptive right?
What power does the grantor retain in a preference contract?
What power does the grantor retain in a preference contract?
In a preference contract, when is the grantor obliged to sell?
In a preference contract, when is the grantor obliged to sell?
Who holds the power in a preference contract to decide on the sale?
Who holds the power in a preference contract to decide on the sale?
What is the correlative right of the grantee against the grantor in a preference contract?
What is the correlative right of the grantee against the grantor in a preference contract?
What is the trigger event in a pre-emption agreement?
What is the trigger event in a pre-emption agreement?
What must the offer be in a preference contract?
What must the offer be in a preference contract?
What type of obligation arises for the Grantor in a pre-emption agreement as soon as the agreement is concluded?
What type of obligation arises for the Grantor in a pre-emption agreement as soon as the agreement is concluded?
What type of obligation is conditional on the happening of a trigger event for the Grantor in a pre-emption agreement?
What type of obligation is conditional on the happening of a trigger event for the Grantor in a pre-emption agreement?
What is required for an offer to be considered valid in a preference contract?
What is required for an offer to be considered valid in a preference contract?
Can the Grantor avoid a pre-emption agreement by making an unreasonable offer?
Can the Grantor avoid a pre-emption agreement by making an unreasonable offer?
What must be the duration of an offer in a preference contract?
What must be the duration of an offer in a preference contract?
What is the remedy available in a preference contract in addition to the usual civil remedies?
What is the remedy available in a preference contract in addition to the usual civil remedies?
