Listed Below Are Five Terms Followed by a List of Phrases

question 16

Essay

Listed below are five terms followed by a list of phrases that describe or characterize each of the terms.Match each phrase with the number for the correct term.

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Definitions:

Implied Contract

An agreement created by actions of the parties involved, rather than written or spoken words, which has the same legal force as a written contract.

Executed Contract

A contract in which all parties involved have fulfilled their obligations as outlined in the agreement.

Executory Contract

A contract that has not yet been fully performed.

Executory

Executory refers to a contract or agreement in which some future act or obligation remains to be performed under its terms.