Contracts
An Arizona real estate purchase contract that is 'executory' means:
AIt has been fully performed by all parties
BIt has been signed but not yet fully performed—some obligations remain✓ Correct
CIt was executed but later found to be illegal
DIt requires a court to enforce it
Explanation
An executory contract is one that has been formed (signed) but where obligations remain to be performed—such as a purchase contract between signing and closing. An executed contract is one where all obligations have been fully performed.
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