Contracts
A real estate contract that is 'executory' means:
ABoth parties have fully performed their obligations
BPerformance by one or both parties remains outstanding✓ Correct
CThe contract was voided by the executor of an estate
DThe contract was executed under duress
Explanation
An executory contract is one in which performance remains outstanding by one or both parties. A standard purchase agreement is executory from signing until closing, at which point it becomes executed.
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