Steve writes a novel and sends it to Penny Publishing. Penny offers Steve $5,000 for a six-month option on the work, and Steve accepts the money. Nine months later, Penny has still not agreed to publish, and Biggie Publishing offers Steve $50,000 for the novel. Steve wants to accept.
Can he legally do so?

a. Yes, because the offer of $50,000 is greater than Penny's offer.
b. Yes, because nine months have passed.
c. Yes, because penny paid him for the option to publish his book.
d. No, because a person may not accept two offers for the same item.

b. Yes, because nine months have passed.

Explanation:

Steve accepted money from Penny Publishing thereby getting into a contract with them.

However the contract gave them a six-month option on Publishing.

At the end of 9 months, three months after their option expired, Steve was approached by Biggie.

Seeing as the contract time with Penny Publishing of 6 months has expired and they still did not publish, Steve is free to offer the rights to another Publishing company.

If you need any clarification do react or comment.

107x106 is the answer

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