Clear-Point Law, Practical Dictionary of Legal Terms
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executory contract


definition of executory contract:

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. Compare EXECUTORY CONTRACT to EXECUTED CONTRACT, a contract which has been completed.

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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