executory

An executory contract is signed by both parties.

Definition

1. Adjective (Law):
   • Relating to something that is not yet fully performed or carried out: "executory" describes a contract, agreement, or obligation that has been made but whose terms have not yet been fully executed or completed. It refers to future performance rather than present or past action.

Usage Examples

• Adjective:
  • The court ruled that the lease was executory because the tenant had not yet paid the full rent. (The lease's terms were not yet fully performed.)
  • In bankruptcy law, an executory contract requires both parties to still have obligations to fulfill. (A contract where duties remain unperformed.)
  • The agreement remained executory until all conditions were met by the buyer. (The contract was pending full completion.)

Advanced Usage

• "Executory interest": In property law, a future interest in land that is created by a conveyance but depends on a condition or event.

  • The donor created an executory interest in the estate, which would take effect only if the beneficiary completed her education. (A future property right contingent on an event.)

• "Executory process": A legal procedure in some jurisdictions (e.g., Louisiana) for enforcing obligations without full trial, based on a notarial act.

  • The creditor used executory process to seize the debtor's assets quickly. (A summary legal proceeding.)

Variants and Related Words

• Execute (verb): to carry out or perform a task, plan, or legal document.

  • The lawyer executed the will on behalf of the client. (Performed the legal act of signing.)

• Execution (noun): the act of carrying out or performing something; also, the enforcement of a legal judgment.

  • The execution of the contract required both signatures. (The completion of the contract.)

• Executrix (noun): a female executor of a will.

  • She served as executrix of her aunt's estate. (The woman appointed to carry out the will.)

Synonyms

• Unperformed: not yet carried out or completed.
• Pending: awaiting completion or decision.
• Contingent: dependent on future events or conditions.

Related Idioms

• Executory contract: A legal term used in bankruptcy and property law.

  • The judge decided the lease was an executory contract, so the tenant could reject it. (A contract with unperformed duties on both sides.)

• Executory bequest: A gift in a will that is conditional on a future event.

  • The executory bequest of the house required the recipient to live there for five years. (A conditional inheritance.)