Contracts
A purchase agreement for real property is an executory contract meaning:
AIt has been fully performed by all parties
BSome future performance is still required by one or both parties✓ Correct
CIt was executed by an attorney
DIt has been recorded in the county deed records
Explanation
An executory contract is one in which performance has not yet been completed — there are still obligations remaining. A purchase agreement before closing is executory because the transfer of title and payment are still pending.
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