Final answer:
The buyer and seller have an express, bilateral executory contract, which is true. The statement about the duration of a sole executive agreement compared to a treaty is false, as treaties are generally more enduring.
Step-by-step explanation:
When asking if the buyer and seller have an express, bilateral executory contract, we are dealing with legal terminology within the field of contract law. An express contract is one where the terms of the agreement are stated clearly by the parties, verbally or in writing, rather than implied by actions. A bilateral contract involves two parties where each party promises to perform an act in exchange for the other party's act. An executory contract is one where future performance is promised, meaning that at least one party has not yet fulfilled their part of the agreement.
In this context, if a buyer agrees to purchase goods from a seller for a specified price, and the seller agrees to deliver the goods at a future date, both have made express promises to each other. This forms a bilateral executory contract because both parties have explicitly stated their terms and have yet to complete their obligations. Therefore, the statement is True.
In contrast, while both domestic and foreign policymaking involve the creation and implementation of governmental policies, the contexts within which they operate exhibit key differences. The process, scope, and impact of policies are generally distinct, with domestic policy primarily centered on internal affairs, and foreign policy focussing on a nation's external relations.
Regarding the durability of a sole executive agreement versus a treaty, sole executive agreements are typically less enduring as they are bound to the term of the signing executive, whereas treaties, once ratified, usually persist irrespective of changes in administration unless formally renounced. Consequently, the statement that a sole executive agreement is likely to be in effect longer than a treaty is False.