what is an option contract law
An option contract is a type of contract that protects an offeree from an offeror's ability to revoke the contract.Consideration for the option contract is still required as it is still a form of contract, cf.ypically, an offeree can provide consideration for the option contract by paying money for the contract or by providing value in some other form such as by rendering other performance or forbearance. See consideration for more information.