Executory vs Executed Contracts - Explained
Contracts that are Performed or To Be Performed
Written by J. Mance Gordon
Updated at April 19th, 2024
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What are executed contracts and executory contracts?
An executed contract is one in which the parties have performed their duties under the contract. An executory contract is one in which the parties have not yet performed their obligations under the agreement.
Example: I enter into a contract with you. Before I have fully performed the contract, it is executory. Once performed, the contract is executed.
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