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An Option Agreement is a legally binding contract between two parties – the landowner and the purchaser (often a developer) of the option. In summary, an option agreement provides a mechanism for a potential land transaction, allowing the buyer to secure the right to purchase the property within a specified timeframe. Purpose and Structure: The…
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A contract farming agreement involves a partnership between a landowner or occupier (the farmer) and a contractor. The farmer directs the contractor to carry out practical operations and management of a crop or other enterprise based on the farmer’s guidelines and benefiting the farmer’s business. The roles and operations are outlined in the contract between…