Contracts that have been fully performed by one side but not by the other are classified as ________ contracts.
A) void
B) voidable
C) executory
D) executed

Question

Quizplus · Accepted Answer

An executory contract is a contract in which one or more parties have not yet fulfilled their obligations under the agreement. Once both parties have fully performed their duties, the contract becomes executed. Therefore, contracts that have been fully performed by one side but not by the other are classified as executory contracts. Void and voidable contracts refer to contracts that are either not legally binding from the beginning or have the option to be terminated by one of the parties. Executed contracts refer to contracts that have been fully performed by both parties.

Contracts That Have Been Fully Performed by One Side but Not