Contracts
In New Mexico, which of the following is an example of an 'executory' contract?
AA completed real estate closing where the deed has been transferred and paid for
BA signed purchase contract with a closing date three weeks away✓ Correct
CA lease that has expired
DA fully paid-off mortgage
Explanation
An executory contract is one where one or more parties still have obligations to fulfill. A signed purchase contract awaiting closing has not yet been fully performed—it is executory.
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