Option

·noun A wishing; a wish.

II. Option ·noun The exercise of the power of choice; choice.

III. Option ·noun The power of choosing; the right of choice or election; an Alternative.

IV. Option ·noun A stipulated privilege, given to a party in a time contract, of demanding its fulfillment on any day within a specified limit.

V. Option ·noun A right formerly belonging to an archbishop to select any one dignity or benefice in the gift of a suffragan bishop consecrated or confirmed by him, for bestowal by himself when next vacant;

— annulled by Parliament in 1845.