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executory contract


  as an issue of Status (read more...)

executory contract, defined:

a contract which has not yet been fulfilled in all of its terms and conditions. In other words one or more parties still has obligations to perform. The term, executory contract, then describes the state of the contact and is therefore classified under the legal element of Status of Beings and Things.

executory contract, as it might be used:

An executory contract can only be executed by complete performance of its terms and conditions.
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