Contract Law

Executory Contract

/ eg-ZEK-yuh-tor-ee KON-trakt /

Definition

A contract in which some performance remains to be completed by both parties.

Used in Context

“The lease is an executory contract while rent obligations remain.”

Etymology

◈ Latin: exsequi, to carry out

Learn a new legal term every day

Lex gives you one legal term daily with flashcards, quizzes, and essays — completely free.