Rough Water Fishing Trips,LLC,and Schafer enter into a contract for the delivery of a used freshwater fishing boat. Until the goods are delivered and paid for,these parties have
A)an executory contract.
B)no contract.
C)a quasi contract.
D)an executed contract.

Question

Quizplus · Accepted Answer

An executory contract is one in which one or both parties have not yet fully fulfilled their obligations. In this case, Rough Water Fishing Trips, LLC and Schafer have entered into a contract for the delivery of a used freshwater fishing boat, but the boat has not yet been delivered or paid for, so the contract is still executory.

Rough Water Fishing Trips,LLC,and Schafer Enter into a Contract for the Delivery