An executory contract is:
A) void if neither party has performed.
B) One that has been completely performed.
C) entered into but not fully performed.
D) always unilateral in nature.

Question

Quizplus · Accepted Answer

An executory contract is one that has been entered into but not fully performed. This means that one or both parties still have obligations to fulfill under the terms of the agreement. It is not void if neither party has performed, as there may still be valid legal obligations that exist. It is also not necessarily unilateral in nature, as an executory contract can be either bilateral or unilateral. Finally, a contract that has been completely performed is not an executory contract at all, as all obligations have already been fulfilled.

An Executory Contract Is