BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -This is a type of contract where both the parties involved in the contract have fulfilled their respective obligations as specified in the agreement.

Detailed explanation-2: -An executory contract is an ongoing agreement between two parties who are responsible for completing certain obligations over a set period of time. They are written agreements that ensure each party is clear about their own and the other’s responsibilities.

Detailed explanation-3: -In a bilateral contract, both parties agree to an obligation and involve equal obligation from the offeror and the offeree.

Detailed explanation-4: -What are executed contracts and executory contracts? An executed contract is one in which the parties have performed their duties under the contract. An executory contract is one in which the parties have not yet performed their obligations under the agreement.

Detailed explanation-5: -Executory consideration, also known as future consideration, refers to a promise that will be carried out at a later time. This is future consideration since the promisor is making an offer for a later date, and the promisee is promising to accept and execute the contract after that date.