An executory contract is a contract:
A) that has been fully performed by all parties.
B) where executive privileges are implied.
C) that has not yet been fully performed by all parties.
D) where one party performs on the basis of a promise made by the other.

Question

Quizplus · Accepted Answer

A contract is executory as long as it has not been fully performed. A contract is partially executory when one person has performed his promise under the contract but the other person has not performed hers. A contract is executed when all the parties have fully performed their duties under the contract.

An Executory Contract Is a Contract