Option a contract giving the buyer the right, but not the obligation to buy or sell a specified amount of a security, etc. at a specified price.

期权(择权)给买者以权利、没有义务以一定价格购买或出售一定数量的有价证券等的合同。

youdao

In this framework, the enterprise organization gets validity through the social contract with society, and the enterprise social obligation is stipulated by a series of social contract.

在这个框架中，企业组织是通过与社会建立契约而获得合法性的，企业社会责任由一系列的契约所规定。

youdao

The buyer has no obligation to the seller to make a contract of insurance.

买方没有义务为卖方办理保险合同。

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The ability to deliver the work on the part of the employer disappears because the critical difference between an ordinary employment contract and a zero hours contract is the legal concept mentioned earlier of "mutuality of obligation".

BBC: Zero hours contracts for NHS staff explained