option

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option

1. Commerce an exclusive opportunity, usually for a limited period, to buy something at a future date
2. NZ short for local option

Option

 

in international law, the choice of citizenship extended to persons having citizenship of two or more states. The implementation of the option is based on an agreement between the interested states or on legislation by the states. The option arises most often in the cession of territory, when special accords grant citizens of the contracting states the right of option. Children, as a rule, follow their parents’ option of citizenship.

An example of option connected with territorial changes after World War II is the 1947 peace treaty with Italy, which granted for one year the right of option of citizenship to citizens who until 1946 had been permanent residents of territories ceded at that time to other states.

After the October Revolution of 1917, the Soviet state concluded an agreement on option with the states that had emerged from the former Russian Empire, for example, with Finland. The USSR signed a number of option agreements after World War II. An example is the Protocol on Option in the 1945 Soviet-Czechoslovak treaty on the Transcarpathian Ukraine. The protocol provided that persons of Ukrainian or Russian nationality who resided in regions of Slovakia in Czechoslovakia and persons of Slovak or Czech nationalities who resided in the Transcarpathian Ukraine could choose either Soviet or Czechoslovak citizenship.

Option of citizenship was also provided for in the conventions on dual citizenship the USSR concluded with a number of socialist states between 1956 and 1966.

option

An agreement between an owner and prospective user of a property which, for a specified sum, grants the latter the right to buy or rent the property within a specified period of time.

option

References in periodicals archive ?
While some smaller agencies might be able to do without E&O, it isn't an option for Smith, Gatta, Gelok, Smith said.
lot a global market leader like Johnson Controls, letting their customers down simply isn't an option.
Even if running isn't an option, note that the amount of exercise necessary to improve bone density appears to be far less than the amount needed to improve fitness.
Lack of education isn't an option if a human population is to be successful.
SELLING the Millennium Stadium isn't an option, says David Moffett, despite the Welsh Rugby Union's financial problems.
The shadow Foreign Affairs Minister, who has never kept his sexuality from friends and colleagues, said: 'Living in disguise as a politician in the modern world simply isn't an option.
When your back is against the wall, playing it safe isn't an option.
engage' argument, since the former isn't an option for Christians.
He points out that diamond isn't an option for cutting and grinding steel because it reacts by turning into graphite when brought into contact with iron-based materials at high temperatures.
Direct outdoor composting (what you call the humanure method) isn't an option because there is no sufficient source of carbon--excrement would simply sit in piles.
Since desktop space is at a premium for most of us, adding three or more devices to an already cramped work area just isn't an option.
But for many, estrogen simply isn't an option as long as some research suggests that it may raise the risk of breast cancer.