- 1 Marks
Question
A contract in which the obligations of the parties are yet to be carried out is known as _____________________.
Answer
Executory contract
Explanation: An executory contract is one where the terms have been agreed upon, but the parties have yet to perform their respective obligations under the contract.
- Tags: Contract Law, Executory Contract, Legal obligations, Short Answer
- Level: Level 1
- Topic: Law of Contract
- Series: NOV 2013
- Uploader: Theophilus