Definitions of "option"
  1. The ability or freedom to make a choice
  2. The authority to demand the execution of a contract anytime within a predetermined duration
  3. An agreement allowing, for a premium fee, the right to purchase or sell specified assets or property rights at a predetermined cost during a certain timeframe
  4. The privilege given to an insurance policyholder to select the method in which different payments due to him or her on the policy are settled or utilized
  5. The act of agreeing to or providing a choice on something
How to use "option" in a sentence
  1. The loan agreement gave the borrower an option to convert the loan to an equity investment at any time within the first five years.
  2. In their insurance policy, they had an option to receive the benefit as a lump sum payout or as monthly installments.
  3. The investor used the option to buy 100 shares of the company's stock at the current price, valid for the next six months.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z