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Executory Contracts
Contracts under which both parties to the agreement have duties remaining to be performed. If a contract's major obligations are unfulfilled by both parties, it is seen as executory.
One-Year Provision
The one-year provision is a legal clause, often found in statutes of frauds, which requires certain contracts to be in writing and signed if they cannot be performed within one year.
Majority Rule
A principle in democracy stating that the decisions and choices of the greater number of participants should guide the actions and policies of the group.
Integrated Contracts
An integrated contract is a written agreement that constitutes the final and complete understanding between parties, encompassing all terms and conditions.
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