QUILLIAN, Judge.
1. "`The obligation by which one binds himself to sell, and leaves it discretionary with the other party to buy, is what is termed in law an option, which is simply a contract by which the owner of property agrees with another person that he shall have a right to buy the property at a fixed price within a certain time.' Black v. Maddox, 104 Ga. 157, 162 (30 S. E. 723)." Gulf Oil Corp. v. Willcoxon,
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