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URL:https://www.learndesk.us/class/6620336978132992/lesson/fef84505a5bbd1e6f077728f02d6e08d?ref=outlook-calendar
SUMMARY:Option Contracts
DTSTART;TZID=America/Los_Angeles:20260516T190000
DTEND;TZID=America/Los_Angeles:20260516T200000
LOCATION:https://www.learndesk.us/class/6620336978132992/lesson/fef84505a5bbd1e6f077728f02d6e08d?ref=outlook-calendar
DESCRIPTION: 
Essential characteristics
Contract requirements
Common provisions
Legal aspects

Essential characteristics
An option-to-buy is an enforceable contract in which a potential seller, the optional, grants a potential buyer, the optionee, the right to purchase a property before a stated time for a stated price and terms. In exchange for the right of option, the optionee pays the option or valuable consideration.
For example, a buyer wants to purchase a property for $150,000 but needs to sell a boat to raise the down payment. The boat will take two or three months to sell. To accommodate the buyer, the seller offers the buyer an option to purchase the property at any time before midnight on the day that is ninety days from the date of signing the option. The buyer pays the seller $1,000 for the option. If the buyer exercises the option, the seller will apply the $1,000 toward the earnest money deposit and subsequent down payment. If the optionee lets the option expire, the seller keeps...

https://www.learndesk.us/class/6620336978132992/lesson/fef84505a5bbd1e6f077728f02d6e08d?ref=outlook-calendar
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