Contracts
A purchase agreement is considered 'executory' when:
AThe transaction has fully closed and all duties have been performed
BThe contract has been signed but has not yet been fully performed by both parties✓ Correct
CThe contract was signed under duress and is void
DThe seller has transferred title to the buyer
Explanation
An executory contract is one that has been entered into but not yet fully performed — for example, after signing but before closing. Once all duties are completed, the contract is 'executed.'
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