Was there an option granted?

The relevant types of option are 'put options', 'call options' and 'put and call options' in their generally accepted commercial sense:

  • a right, granted by an owner of property to another person, that entitles that other person (or their assignee) to require the owner to enter into a contract of sale of the property with that other person (or their assignee) or transfer the property to that other person (or their assignee), and/or
  • a right, granted to an owner of property by another person, that requires that other person (or their nominee) to enter into a contract to buy the property from the owner or accept a transfer of the property from the owner.