Celia wishes to open an art studio in downtown Redlands. She is not sure if the business venture will be successful, but she is aware that real estate prices are rising and she wants to lock in the current sales price for the building. She enters into a 10-year lease with the property owner/seller, which gives her the right to buy the building at the end of the ten years for $995,000. She pays an additional $200/month to have this right. Near the end of the ten years, the building is now valued at $2.3 million. The owner/seller tells Celia she will have to pay at least $2 million to buy the property and that the owner/seller's earlier offer to sell is revoked. Can the owner/seller legally do this? Yes. The real estate business is a tough business and these things happen. O No. Celia's loyalty as a nearly ten-year tenant should entitle her to a bigger discount. O No. The owner/seller and Celia had an option contract which required the seller to hold the offer to sell for $995,000 open for ten years.. Yes. The owner revoked the offer to sell before Celia accepted the offer (e.g. before the end of the ten years)