The basic distinction between an executory contract and an executed contract is that
A)one is enforceable,the other is not.
B)only one promise is involved in an executory contract.
C)one is legal,the other is not.
D)all parties have fulfilled their obligations in an executed contract.

Question

Quizplus · Accepted Answer

An executed contract is one in which all parties have fulfilled their obligations. In contrast, an executory contract is one where the parties have not yet completed their obligations.

The Basic Distinction Between an Executory Contract and an Executed