Contracts That Have Been Fully Performed by One Side but Not

question 44

Multiple Choice

Contracts that have been fully performed by one side but not by the other are classified as ________ contracts.

• A) executory
• B) executed
• C) void
• D) voidable

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Definitions:

Bulk Sales

Transactions where a business sells a significant portion of its inventory to a single buyer as part of liquidating the business or changing its product line.

Physical Duress

Coercion involving the threat of physical harm to compel someone to do something against their will or judgment.

Voidable Title

A legal status in transactions where the title or ownership of an asset can be declared invalid by one party if certain legal deficiencies are discovered.

Good Faith Purchaser

A person who buys property without knowledge of any existing claims, liens, or encumbrances against it.