Morning ablutions and other responsibilities. by Daniel R. Levitan. This morning a phrase popped into my head â âmorning ablutionsâ. I do not believe that I have heard that phrase used in the past thirty or forty years; certainly it is not a common expression these days. But I was pleased that my mind was still functioning, even if in somewhat unpredictable ways.
Definition of 'Put Option'. Definition: Put option is a derivative contract between two parties. The buyer of the put option earns a right (it is not an obligation) to exercise his option to sell a particular asset to the put option seller for a stipulated period of time.
Definition of Active Option Contract. An active option contract means a home seller has accepted an offer to sell their home but the contract is in the option period. During the active option contract, the buyer has several days to have the home inspected. In other locations, the active option contract is referred to as a contingency period or due diligence period. In Texas, buyers must make an option period deposit, which is separate from the earnest money deposit.