What Is an Executory Contract

question 43

Multiple Choice

What is an executory contract?

• A)a contract that cannot be discharged under Chapter 13
• B)a contract that the debtor is obliged to perform despite filing for bankruptcy
• C)an agreement between several creditors and a single debtor, dividing the debtor's property
• D)a lease that has not been fully performed

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Definitions:

Mississippi Legislature

The legislative body of the U.S. state of Mississippi, responsible for creating state laws and policies.

Trademark

Any word, name, symbol, or device used in business to identify and promote a product. Its counterpart for service industries is the service mark.

Copyright

A form of protection provided to the creators of original works in the areas of literature, music, drama, choreography, art, motion pictures, sound recordings, and architecture.

Patent

A grant of exclusive property rights on inventions through the U.S. and other governments.