Avatar,Inc.,and Bling Corporation sign a contract in which Avatar agrees to deliver t-shirts emblazoned with video game characters in exchange for Bling's prom-ise to pay.Avatar delivers.The contract is
A)void.
B)executed.
C)executive.
D)executory.

Question

Quizplus · Accepted Answer

An executory contract is one in which both parties have yet to fulfill their obligations. In this case, Avatar has delivered the t-shirts, but Bling has not yet paid. Therefore, the contract is executory.