A Contract That Has Been Fully Performed by Both Sides

question 39

True/False

A contract that has been fully performed by both sides is called an executory contract.

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Definitions:

Computer System

An integrated set of hardware and software designed to process data and produce outputs.

Ponzi Scheme

A fraudulent investing scam promising high rates of return with little risk by paying earlier investors with the funds from more recent investors.

Bait And Switch

A deceptive marketing practice where customers are lured with the promise of a product or service at a certain price, only to find it unavailable and replaced with a more expensive option.

Account Kiting

The illegal practice of exploiting banking systems to create artificial funds by writing checks between several accounts.