Contracts
A Michigan purchase agreement is 'executory' when:
AThe seller has signed and accepted the offer
BBoth parties have signed but the transaction has not yet closed✓ Correct
CThe deed has been recorded
DThe title insurance has been issued
Explanation
An executory contract is one that has been entered into by both parties but not yet fully performed. A real estate purchase agreement is executory from acceptance until closing.
Related Michigan Contracts Questions
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