Instructions: Identify the Following

question 79

Essay

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Lecompton Constitution

---

Definitions:

Fair Market Value

The price that property would sell for on the open market between a willing buyer and a willing seller.

Preexisting Duty

An obligation that a party is already legally required to perform, which cannot serve as consideration for a new contract.

Executory Contract

A contract that has not yet been fully performed or completed by one or more parties.

Executory

Pertaining to a contract or agreement in which not all obligations or terms have yet been fulfilled by the involved parties.