On June 16, Hillary offers to sell her waterbed to Melania for $750. Melania accepts and...
On June 16, Hillary offers to sell her waterbed to Melania for $750. Melania accepts and says she will pay Hillary $750 on January 20. Which of the following is correct?
| a. |
On June 16, the contract was executory. |
|
| b. |
On June 16, the contract was executed. |
|
| c. |
This contract is a unilateral contract. |
|
| d. |
There is no contract until June 20. |
Homework Answers
Ans: a. On June 16, the contract was executory
An executory contract is a contract that has not yet been fully performed or fully executed. It is a contract in which both sides still have important performance remaining.
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