Law used to focus on the wrongful act of falling to pay money owed on debt. The agreements which included exchange of goods and services were not enforceable. As the trade and business expanded people started to manipulate the “word of mouth” which created disputes between the parties. Later the merchants did not trust each other. For this reason law began to enforc.
Options have a role in business outside the stock and commodity markets. In the law of contract, the option is a continuing offer to purchase or lease property. The offer is irrevocable for the stated period of time. Like most other contracts, the option contract is not terminated by the sub-sequent death or insanity of either party.