acquire an option


Senior Member
That the Prospective Franchisee is not engaged in any discussions with or has acquired an option to take up a franchise from a person or entity engaged in a business similar to or competing with our System;
Does "acquire an option" mean to accept to take up a franchise?
Source: Franchise Agreement - TGF
  • PaulQ

    English - England
    No. An option (in this sense) is a right to do something that is not, as yet, being done. This right is considered in English and American Law to be something that you can buy (and sell), although it does not mean that you must buy the article concerned.

    You can buy my car, in which case, the car is yours.
    You can buy the option to buy my car. This means that if I ever want to sell the car, I must first ask you if you want to buy my car. You can then say either "Yes" or "No".
    < Previous | Next >