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During the period after a real estate sales contract is signed, but before title actually passes, the status of the contract is

Sagot :

buchinnamani208

Question options:

a. voidable

b. executory

c. unilateral

d. implied

Answer:

b. executory

Explanation:

Executory means something that is yet to be finished or concluded so that it becomes valid. An executory contract is in the process of being completed and is therefore considered invalid until it is fully assuredly finished, signed, sealed and delivered.

An executory contract between two parties means contract has been signed but duties promised by either or both parties is yet to be fulfilled and will be done at a later date for contract to be fully executed.

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