Home Contract A Contract That Has Been Fully Performed By The Parties Is An...

A Contract That Has Been Fully Performed By The Parties Is An Executory Contract. (Answer)

A contract that has been fully performed by the parties is an executory contract.

Need an answer?

Let’s do a pop quiz?

Keep reading as we have gathered exactly the information that you need!

Let’s dig into our contract type and knowledge!

Are you ready?

Let’s get started!

A contract that has been fully performed by the parties is an executory contract.

Question:

Is the following statement correct: a contract that has been fully performed by the parties is an executory contract.

Answer:

It’s incorrect.

A contract that has been fully performed on both sides is called an executed contract.

An executory contract is one where the obligation of the parties are yet to be completed and remain “executory”.

Executory Contract

An executory contract is a contract where the parties have not yet fully executed material obligations under their contract.

In other words, the performance of the contract is not completed on both sides. 

Executed Contract

An executed contract (or executed agreement) is when a contract has been fully signed by the contracting parties in order to formalize the contractual relationship.

Alternatively, the term executed contract (like executed purchase agreement) can refer to a situation when the contract has been signed and the obligations fully performed.

Takeaways 

So, is a contract that has been fully performed by the parties is an executory contract?

Let’s look at a summary of our findings.

A contract that has been fully performed by the parties is an executory contract.

  • Question: A contract where the obligations have been fully performed by the parties is called?
  • Answer: An executed contract
Bilateral contract
Business law 
Contract law
Contract principles 
Contractual obligation 
Executed vs executory 
Express contract
Preliminary agreement 
Unilateral contract
Author

Editorial Staff
Hello Nation! I'm a lawyer by trade and an entrepreneur by spirit. I specialize in law, business, marketing, and technology (and love it!). I'm an expert SEO and content marketer where I deeply enjoy writing content in highly competitive fields. On this blog, I share my experiences, knowledge, and provide you with golden nuggets of useful information. Enjoy!

Most Popular

What Is A Special Purpose Entity (All You Need To Know)

What Is A Special Purpose Entity (Explained: All You Need To Know)

What Is Corporate Raiding (Explained: All You Need To Know)

What Is Corporate Raiding (Explained: All You Need To Know)

What Are Golden Shares (Explained: All You Need To Know)

What Are Golden Shares (Explained: All You Need To Know)

What Is A Targeted Repurchase (Explained: All You Need To Know)

What Is A Targeted Repurchase (Explained: All You Need To Know)

What Is A Friendly Takeover (Explained: All You Need To Know)

What Is A Friendly Takeover (Explained: All You Need To Know)

Editor's Picks

Bear With Me Meaning (Explained: All You Need To Know)

Bear With Me Meaning (Explained: All You Need To Know)

My Apology or My Apologies (Explained: All You Need To Know)

My Apology or My Apologies (Explained: All You Need To Know)

Black Knight (Definition And Strategies: All You Need To Know)

Black Knight (Definition And Strategies: All You Need To Know)

Commercial Impracticability (What It Is And How It Works)

Commercial Impracticability (What It Is And How It Works)

Financial Intermediaries (Definition: All You Need To Know)

Financial Intermediaries (Definition: All You Need To Know)