Contracts
A North Carolina contract is 'executory' when:
AThe contract has been fully performed by all parties
BThe contract has been signed but not yet fully performed✓ Correct
CThe contract has been voided by both parties
DThe contract is being disputed in court
Explanation
An executory contract is one that has been agreed upon but not yet fully performed. A real estate contract is executory from signing until the closing when all terms are fulfilled.
Related North Carolina Contracts Questions
- The North Carolina Offer to Purchase and Contract is a standard form approved by:
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