Executory vs Executed Contracts
Contracts that are Performed or To Be Performed
- Accounting, Taxation, and Reporting
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Marketing, Advertising, Sales & PR
- Business Management & Operations
- Economics, Finance, & Analytics
- Professionalism & Career Development
- Courses
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.
Next Article: Performance, Substantial Performance, & Breach Back to: CONTRACT LAW
Discussion: Why do you think it is necessary in business to characterize contracts are executory versus executed?