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EXECUTORY - 2 reference results
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 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.

In bankruptcy law

The term executory contract assumes a specialized meaning in some areas of law. In bankruptcy law, an executory contract is a contract in which continuing obligations exist on both sides of the contract.

Installment contracts

Many installment contracts are commonly executory, for example, installment credit loans, period loan payments, mortgages, paychecks, and similar contracts.

References

See also

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There is no stopping traffic: Second Circuit protects right of debtor to reject executory contract.
Nov 07, 2008; The Bankruptcy Code allows a debtor to assume or reject executory contracts and unexpired leases before the confirmation of a...
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Debtors required to cure nonmonetary defaults as a condition to assuming executory contracts
Sep 01, 1997; A debtor is required to cure nonmonetary defaults to an executory contract as a condition to assumption of such contract, unless...
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A trade creditor's post-petition obligations under an unexpired executory contract prior to assumption or rejection: the muddled state of the law.(CREDIT COLUMN)
Sep 01, 2006; Let us suppose that a trade creditor had entered into a supply agreement to provide goods and/or services to a financially...
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Failure To Describe Easements Does Not Create Executory Contract.
Aug 23, 2006; The U.S. Court of Appeals for the Third Circuit has held that unperformed obligations to more particularly describe easements in...
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Executory Contracts: How Prompt Is "Prompt?"
Feb 01, 2004; Wile bankruptcy practitioners now that the language of 365 requires "prompt" cure before an executory contract may be assumed,...
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