Letter O Vocab

Question 1

This is a term that is used to describe an offer to go under contract by one party to another party and an indication by the agreed upon acceptance of those terms by the other party

Answer 1

Offer and Acceptance

Question 2

This is a term is used to define the person receiving the offer, the
“Receiv-ee”

Answer 2

Offeree

Question 3

This is a term is used to define the person making the offer, the
“Give-or”

Answer 3

Offeror

Question 4

This is a term that states that a term of the leasing contract on a property that allows the buyer the right to purchase

Answer 4

Option

Question 5

This is a term is used to define the person who is receiving the
option also known as the “Receiv-ee”

Answer 5

Option-ee

Question 6

This is a term is used to define the person giving the option also known as the “Giv-or”

Answer 6

Option-or

Question 7

This is a term is used to define an upfront fee that borrowers will pay to the lender as compensation for issuing a loan, processing, as well as underwriting etc.

Answer 7

Origination Points

Question 8

This is a term that is used to describe when more groundwater is being used than is being replaced in the underground aquifer.

Answer 8

Overdraft