Question

A contract contains several promises made by each of the parties, and performance of every promise has not yet been performed. This contract is

a. Executed.
b. Formal.
c. Voidable.
d. Executory.

Answer 1

D). Executory contract.

Step-by-step explanation:

'Executory contracts' are exemplified as the legal agreements(contracts) between two parties that has not yet been carried out or executed completely. Rental lease, lease for a car, development contract, etc, are some of the examples of such contracts. Such contracts propose a set of duties or obligations to be performed until the complete execution or performance of the contract. The number of promises made by both is parties is to be absolutely accomplished at another(later) time or date. Therefore, option D is the correct answer.