Contract Defined - Executed and Executory Contracts

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  1. An executed contract is one in which all the parties thereto have performed all the obligations which they have originally assumed.
  2. An executory contract is one in which something remains to be done by one or more parties.

(Orig. Code 1863, § 2677; Code 1868, § 2673; Code 1873, § 2715; Code 1882, § 2715; Civil Code 1895, § 3632; Civil Code 1910, § 4217; Code 1933, § 20-102.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 17 Am. Jur. 2d, Contracts, § 5.

C.J.S.

- 17 C.J.S., Contracts, § 8.

ALR.

- Moral obligation as a consideration for an executory promise, 17 A.L.R. 1299; 79 A.L.R. 1346; 8 A.L.R.2d 787.

Agreements in relation to exchange or remittance as within statute of frauds, 19 A.L.R. 1140.

Claim in receivership for breach of contract which was still executory when receiver was appointed, 33 A.L.R. 508.

Assignability of contract to furnish all of buyer's requirement or to take all of seller's output, 39 A.L.R. 1192.

Right of purchaser to acquire and assert outstanding title as against vendor, 40 A.L.R. 1078.

Right of vendee under an executory land contract to a lien for amount paid on the purchase price, 45 A.L.R. 352; 33 A.L.R.2d 1384; 82 A.L.R.3d 1040.

Bankruptcy or insolvency of corporation as affecting its executory contract for the sale of its own stock, 46 A.L.R. 1172.

Vendee's right to recover amount paid under executory contract for sale of land, 59 A.L.R. 189; 102 A.L.R. 852; 134 A.L.R. 1064.

Right of vendee under executory contract to bring action against third person for damage to land, 151 A.L.R. 938.

Enforceability, as between parties, of an executory agreement made in fraud of creditors, 172 A.L.R. 1121.

Moral obligation as consideration for contract - modern trend, 8 A.L.R.2d 787.

Right of vendee under executory land contract to lien for amount paid on purchase price, 33 A.L.R.2d 1384; 82 A.L.R.3d 1040.

Mechanic's lien based on contract with vendor pending executory contract for sale of property as affecting purchaser's interest, 50 A.L.R.3d 944.

Right of vendee under executory land contract to lien for amount paid on purchase price as against subsequent creditors of or purchasers from vendor, 82 A.L.R.3d 1040.


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