- executory contract
a contract in which some or all of the obligations of each party have not yet been completed. The debtor-in-possession (or trustee) is allowed to reject unilaterally certain executory contracts (Glossary of Common Bankruptcy Terms)see leases and executory contracts (Bernstein's Dictionary of Bankruptcy Terminology)A contract in which some or all of the obligations of each party have not yet been completed. A typical example is a lease agreement (SA-Bankruptcy.com)
United Glossary of Bankruptcy Terms 2012.
- executory contract
see Leases and Executory Contracts
US Bankruptcy 2012.
Glossary of Bankruptcy.
Look at other dictionaries:
executory contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. executory contract … Law dictionary
Executory contract — An executory contract is a contract in which a party has material unperformed obligations. Although material, an obligation to pay money does not usually make a contract executory. An obligation is material if a breach of contract would result… … Wikipedia
executory contract — A contract that has not as yet been fully completed or performed. A contract the obligation (performance) of which relates to the future. Wagstaff v. Peters, 203 Kan. 108, 453 P.2d 120, 124. In context of Bankruptcy Code, is contract under which… … Black's law dictionary
executory contract — A contract to be performed, each party having bound himself to do or not to do a particular thing. 17 Am J2d Contr § 6 … Ballentine's law dictionary
executory contract or lease — Generally includes contracts or leases under which both parties to the agreement have duties remaining to be performed. (If a contract or lease is executory, a debtor may assume it or reject it.) (BankruptcyAction.com) United Glossary of… … Glossary of Bankruptcy
executory contract to sell — Contract under which something remains to be done by either party before delivery and passing of title. Martin v. John Clay & Co., Mo.App., 167 S.W.2d 407, 411 … Black's law dictionary
executory contract of sale — A contract, the terms and conditions of which must be performed before title passes. 46 Am J1st Sales § 412. A land contract under which the execution and delivery of a further instrument is necessary for the passing of title to the purchaser. 55 … Ballentine's law dictionary
executory — ex·ec·u·to·ry /ig ze kyə ˌtōr ē/ adj: designed or of such a nature as to be performed in the future or to take effect on a future contingency cancellation of the executory portion of the contract J. J. White and R. S. Summers compare contingent… … Law dictionary
contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… … Law dictionary
Executory — Ex*ec u*to*ry, a. [LL. executorius, L. exsecutorius: cf.F. ex[ e]cutoire.] 1. Pertaining to administration, or putting the laws in force; executive. [1913 Webster] The official and executory duties of government. Burke. [1913 Webster] 2. (Law)… … The Collaborative International Dictionary of English