- option to renew
- A right granted a lessee by the terms of the lease.
Ballentine's law dictionary. Anderson, W.S.. 1998.
option to renew
Look at other dictionaries:
option — op·tion 1 / äp shən/ n 1: the power or right to choose; also: a choice made or available 2: a privilege of demanding fulfillment of a contract on any day within a specified time 3: a contract conveying in exchange for the payment of a premium a… … Law dictionary
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