Property Ownership
What is an 'executory' contract in Delaware real estate?
AA contract signed by an executor of an estate
BA contract where some or all obligations have yet to be performed✓ Correct
CA contract that requires court approval to execute
DA contract that has been executed (fully performed)
Explanation
An executory contract is one where some or all obligations remain to be performed. A purchase contract between signing and closing is executory — the buyer's obligation to pay and the seller's obligation to deliver title have not yet been fulfilled.
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