Option with a Standard PA + Short Sale

[Catherine D.]

1. In writing an Option in a Standard PA, is there language universally accepted? I know that it is an oxymoron in the heavily litigated real estate world, but generally speaking...

"Received of" [i[b]]"and or assigns"

"the sum of"...

2. Also, has anyone had experience exercising options in short sales, or is that a no-no?

Thx in advance!
Cat