executory
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executory
adj.
executive, having the power to execute laws and policy; to be carried out or executed
Executory contract
An
executory contract is a
contract that has not yet been fully performed, that is to say, fully executed. Put another way, it's a contract under which both sides still have important performance remaining. However, an obligation to pay money, although such obligation is material, does not usually make a contract executory. An obligation is material if a
breach of contract would result from the failure to satisfy the obligation. A contract that has been fully performed by one party but not by the other party is classified as an executory contract.
Executory
(a.)
Pertaining to administration, or putting the laws in force; executive.
(a.)
Designed to be executed or carried into effect in time to come, or to take effect on a future contingency; as, an executory devise, reminder, or estate; an executory contract.
Webster's Revised Unabridged Dictionary (1913), edited by Noah Porter.
About
executory
executory /ig,zekju'tɔ:riəl/ (executory) /ig'zekjutəri/- tính từ
- (thuộc) sự thực hiện, (thuộc) sự thi hành; để thực hiện, để thi hành
- (thuộc) sự chấp hành; (thuộc) sự quản trị
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