Laborers working on a building are promised by their contractors that their wages would be paid at the end of every month. The laborers also in return promise to work from the beginning of the subsequent month. When the laborers have worked for the entire duration of the month and are awaiting their wages at the end of the month, the contract is ________. Group of answer choices implied executed void executory unilateral

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13-07-2022
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Laborers working on a building are promised by their contractors that their wages would be paid at the end of every month. The laborers also in return promise to work from the beginning of the subsequent month. When the laborers have worked for the entire duration of the month and are awaiting their wages at the end of the month, the contract is ________. Group of answer choices implied executed void executory unilateral

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Tutorconsortium311 Tutorconsortium311 · Answer 1 · 2022-07-19T11:37:48+02:00

Laborers working on a building are promised by their contractors that their wages would be paid at the end of every month. The laborers also in return promise to work from the beginning of the subsequent month. When the laborers have worked for the entire duration of the month and are awaiting their wages at the end of the month, the contract is executory.

What is the meaning of executory?

Something that hasn't been fully executed yet and is consequently still deemed insufficient or uncertain until it is, for example, a contract.
Anything that is executory has either begun and is not yet finished or is in the process of finishing in order to be fully effective later.

What is an example of an executory contract?

An apartment lease is an illustration of an executory contract.
Until the end date specified in the lease, both the lessee and the lessor are obligated to make payments and maintain the property.

What do you mean by executory and non executory contract?

For instance, the majority of leases and contracts for the sale of commodities in which the buyer has not made payment and the vendor has not delivered the products are executory contracts.
If the products have been delivered but the buyer has not made payment, the contract is not in force.

Learn more about executory contract here:

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