Put

An optionThe unilateral right to do something. For example, the right to renew a lease or purchase a property. contractThe formal legal document, also known as the "policy" that describes the agreement between the policyholder that gives the holderThe party that currently owns the loan and holds its legal title. the right but not the obligationLegal reservation of funds based on known requirements (a contract, for example), or an a realistic estimate of costs. to sell a specified quantity of a particular commodityA commodity, as defined in the Commodity Exchange Act, includes the agricultural commodities enumerated or other interestThis is the amount that is imposed when payment is remitted after the due date. at a given priceThe dollar amount that was offered, asked, or actually paid for a property. (the "strike priceThe price, specified in the option contract, at which the underlying futures contract, security, or") prior to or on a future date.