Imagine that the following paragraph describes an agreement that has been reached between Han Solo and Chewbacca: I, Han Solo, in consideration of the sum of $10 paid to me, hereby grant to Chewbacca the right to purchase the Millennium Falcon within one week from this date at the price of $1,000,000.
Which of the following statements is INCORRECT ?

Question

Imagine that the following paragraph describes an agreement that has been reached between Han Solo and Chewbacca: I, Han Solo, in consideration of the sum of $10 paid to me, hereby grant to Chewbacca the right to purchase the Millennium Falcon within one week from this date at the price of $1,000,000. 
 Which of the following statements is  INCORRECT ?

Answer

This is an option contract

Answer

If Chewie accepts the offer within the week, he will need to pay $1,000,000 to purchase the Millennium Falcon

Answer

As consideration has been given for the promise to keep the offer open for one week, the offer cannot be withdrawn

Answer

If Chewie accepts the offer within the week, he will need to pay an extra $999,990 to purchase the Millennium Falcon

Crowdly

Imagine that the following paragraph describes an agreement that has been reache...

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