226k views
5 votes
An executed contract results from the complete performance by all parties of the contract?

1) True
2) False

User Ashen
by
7.6k points

1 Answer

1 vote

Final answer:

An executed contract is indeed one where all parties to the contract have completely performed their obligations, making the statement true.

Step-by-step explanation:

An executed contract is one where all parties involved have fulfilled their contractual obligations. The statement that an executed contract results from the complete performance by all parties is True. Once the terms of the contract have been fully carried out by everyone involved, the contract is considered executed. The process involves the offering party presenting terms to the accepting party, who agrees to the terms, followed by the exchange of consideration, and ultimately, the complete performance of the contract's terms by all parties.

User Pattabi Raman
by
7.6k points