Final answer:
An agreement where terms are not fully carried out or are in the process of being carried out is known as executory. These agreements often involve imperfect information and can be complex, as they may span over time and be affected by changes in political climates.
Step-by-step explanation:
When terms are not fully carried out or are in the process of being carried out by parties in an agreement, this situation is often referred to as an agreement being executory. Executory agreements are common in business and law, where the obligations of a contract are set to occur over time, rather than immediately upon signing. For example, in cases where there is imperfect information, such as a situation where either the buyer or the seller, or both, are uncertain about the qualities of what they are buying and selling, an agreement may include provisions that are to be satisfied over time to account for this lack of complete knowledge.
In international relations, agreements can also be executory. A relevant example includes the "Israeli-Palestinian Interim Agreement", where the current status is subject to an ongoing process, and the permanent status will be determined through further negotiation. The complexity of these agreements often reflects the imperfect information and unpredictable changes in political climates, such as changes in leadership that can lead to different interpretations and enforcement of the agreements, exemplified by the shifts in commitment of the United States to the Iran Nuclear Deal under different administrations.