[Autom. eng. transl.] Pursuant to art. 1331 of the Civil Code, there is an option "when the parties agree that one of them remains bound by its declaration and the other has the faculty to accept it or not". In other words, it is a "preparatory" agreement containing a contractual proposal coming from one (optional) party, whose acceptance by the counterparty (option) completes the "final" contract to which the instrumental contract tends. The effects deriving from the declaration of the options are equivalent, by express legislative provision, to those deriving from an irrevocable proposal pursuant to art. 1329 cc, ie the ineffectiveness of the revocation of the proposal before the expiry of the fixed term. This does not mean, however, that the option agreement and irrevocable proposal, identical in effect, also have the same nature: while the option, in fact, arises from an agreement between the parties, the second consists in a unilateral declaration by the proposer.
|Translated title of the contribution||[Autom. eng. transl.] The option|
|Number of pages||10|
|Journal||OBBLIGAZIONI E CONTRATTI|
|Publication status||Published - 2007|