Final answer:
The correct answer is B. Option contract. An option contract is an agreement that gives the buyer the right to buy or sell an asset at a pre-determined price within a specific time period. In this case, it refers to a contract to leave an offer open for a period of time in exchange for other consideration.
Step-by-step explanation:
The correct answer is B. Option contract.
An option contract is an agreement between two parties that gives the buyer the right, but not the obligation, to buy or sell an asset at a pre-determined price within a specific time period. In this case, the contract to leave an offer open for a period of time in exchange for other consideration is known as an option contract. The buyer pays a fee, called the option premium, to the seller for this right.
For example, let's say a student receives a job offer but wants some time to consider it. The employer may offer an option contract that allows the student to keep the offer open for a specified period in exchange for something of value, such as an additional benefit or consideration.