ContractsTypes_of_contractsEASY
A contract signed by both parties contains all required elements and is ready for performance. The closing has not yet occurred and both parties still have duties to perform. What term describes this contract?
Correct Answer
A) Executory contract
An executory contract is one in which one or more parties still have duties left to perform. Until closing, both parties have remaining obligations.
Answer Options
A
Executory contractB
Executed contractC
Void contractD
Implied contractWhy This Is the Correct Answer
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Deep Analysis of This Contracts Question
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Background Knowledge for Contracts
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Real World Application in Contracts
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Common Mistakes to Avoid on Contracts Questions
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Related Topics & Key Terms
Key Terms:
types_of_contractscontractsexecutorypending
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