584 CHAPTER Twenty-Seven

584 CHAPTER Twenty-Seven

OPTION — A right given for a consideration to purchase or lease a property upon specified terms within a specified time, without obligating the party who receives the right to exercise the right. ORAL CONTRACT — A verbal agreement; one which is not reduced to writing. ORIENTATION — Placing a structure on its lot with regard to its exposure to the rays of the sun, prevailing winds, privacy from the street and protection from outside noises. because of the acts or omissions of the principal. OVERIMPROVEMENT — An improvement which is not the highest and best use for the site on which it is placed by reason of excess size or cost.