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- An executory contract is a contract made by two parties in which the terms are set to be fulfilled at a later date. The contract stipulates that both sides still have duties to perform before it becomes fully executed. The contract is often in place between a debtor or borrower and another party.
legaldictionary.net/executory-contract/
Dec 19, 2014 · An executory contract is a contract made by two parties in which the terms are set to be fulfilled at a later date. The contract stipulates that both sides still have duties to perform before it becomes fully executed. The contract is often in place between a debtor or borrower and another party.
An executory contract is an ongoing agreement between two parties who are responsible for completing certain obligations over a set period of time. They are written agreements that ensure each party is clear about their own and the other’s responsibilities.
An executory contract is a type of agreement between parties in which some future act or obligation remains to be performed. This means that the completion of the contract's terms and conditions is contingent on one or more parties fulfilling certain actions or duties in the future.
What does "executory contract" mean in legal documents? An executory contract is a type of agreement where one or both parties still have obligations to fulfill. Imagine you and a friend agree to trade your old video games for a new board game.
What does "executory contracts" mean in legal documents? Executory contracts are agreements where both parties involved still have things they need to do. Imagine you and a friend decide to share a pizza. You agree that you will order it, and your friend will pay for it when it arrives.
An executory contract works by outlining the responsibilities of each party involved. Until all terms are met—like payments made or services provided—the contract remains executory. Once both parties fulfill their obligations, the contract is considered executed or completed.
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An executory contract is defined as a contract where both parties have ongoing obligations to perform under its terms. The legal definition emphasises the mutual responsibility to fulfils future duties, which distinguishes it from contracts that are already fully executed.
