executory contract

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

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.