Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'contractual right'?

A. power, privilege, demand, or claim possessed by some party that is conferred by contract
B. contractual right that may be exercised at some point in the future, such as an option to extend a contract, or other available but not obligatory rights as defined in the contract
C. right that depends on a future event or the performance of an action
D. power, privilege, demand, or claim possessed by some party by virtue of law

Answer: power, privilege, demand, or claim possessed by some party that is conferred by contract