Jordan is considering opening a fast-food business across the street near Xanadu, a technology company's office campus that employees 750 people. Jordan needs to secure $250,000 in loans to open his restaurant. The owner of the land promises him that he has two months to accept his offer of $75,000 for the land. Discuss how Jordan can ensure that the owner does not sell the land to another buyer before he has the ability to secure funding for the business.

What is the legal concept(s) being discussed? (There may be more than one.)