Contracts
A purchase and sale agreement signed by both parties is considered:
AAn executory contract — performance is still pending✓ Correct
BAn executed contract — all obligations are fulfilled
CA unilateral contract
DA void contract
Explanation
A purchase and sale agreement signed by both buyer and seller is an executory bilateral contract — both parties have agreed but have not yet performed their obligations (paying the purchase price and transferring title). It becomes executed at closing.
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