How To Use
Option agreements are standard in many areas of business. Adapt this one to your purposes.
This review list is provided to inform you about this document in question and assist you in its preparation.
- Make multiple copies. Give one to each signatory. Keep one in the relevant transaction file.
Option to Purchase
__________________________, referred to as SELLER, and __________________________, referred to as OPTION HOLDER, agree:
In consideration of $________ (__________________________________________ & _____/100 dollars), paid by OPTION HOLDER to SELLER, the receipt of which is acknowledged, the SELLER grants to OPTION HOLDER, the exclusive option to acquire the following business: _____________________, located at _______________________________________ for a period of __________ months.
This writing accurately sets forth the agreement between the parties and this agreement may only be amended in writing signed by both parties.