Whereas, A. B. has this day purchased --------- [insert description of property], for the price of ---------;

And whereas, by the mutual agreement of said parties, said price was paid not only for said ---------, but also for the option to resell which is hereinafter set forth;

Now I, C. D., the undersigned, in consideration of said sale, and in consideration of one dollar ($1) paid to me by said A. B., the receipt of which is hereby acknowledged, do hereby agree that if, at the expiration of one year from the date hereof, the said A. B. shall desire to sell said --------- at the price paid by him therefor, I will purchase the same and pay to him the amount paid by him therefor, together with interest thereon at the rate of --------- per cent.

per annum.

---------,---------, 19-. C. D.

For other forms of options, see Sec. 3889, 3911 and 3912. For form of contract for sale of realty, see Sec. 3922.

For the validity of option contracts, see Sec. 122 et seq., 647 et seq. and 652 et seq.