Executory refers to a legal concept related to contracts, particularly those with ongoing obligations or terms that have not yet been fulfiled. An executory contract is one in which both parties still have duties to perform or obligations to fulfil. Until all conditions or requirements under the contract are met, it remains executory. This term commonly arises in bankruptcy proceedings, where the bankruptcy trustee may assume or reject executory contracts as part of the debtor’s estate management. In essence, an executory contract is one that is still in progress and has yet to be fully executed or completed by the involved parties.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/executory/
- Modern Language Association (MLA):Executory. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/executory/.
- Chicago Manual of Style (CMS):Executory. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/executory/ (accessed: May 09 2024).
- American Psychological Association (APA):Executory. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/executory/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts