Simple English definitions for legal terms
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Optionor: A person who gives someone else the right to buy or sell something at a certain price. They are also called option-givers or optioners.
Definition: An optionor (also spelled optioner) is a person or entity that grants an option to another party. An option is a contract that gives the holder the right, but not the obligation, to buy or sell an asset at a predetermined price within a specified time frame.
Examples:
These examples illustrate how an optionor grants an option to another party. In the first example, John is the optionor who gave Mary the right to buy his house at a specific price within a certain time frame. In the second example, the company acted as the optionor and gave its employees the right to purchase company stock at a discounted price.