James offers to sell four acres of land to Jennifer for $8,000 and further offers to keep the offer open for one month if Jennifer will pay him $100 for the privilege. Jennifer pays James $100. Which statement describes the payment of $100?
A) An implied in fact contract has been formed.
B) A unilateral contract has been formed.
C) This is a formal contract.
D) This is an option contract.
D
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