La. Civ. Code art. 2620
Current with changes from the 2024 Legislative Session
An option to buy, or an option to sell, is a contract whereby a party gives to another the right to accept an offer to sell, or to buy, a thing within a stipulated time.
An option must set forth the thing and the price, and meet the formal requirements of the sale it contemplates.
La. C.C. § 2620