Asked by Maria Alanis on May 21, 2024
Verified
A contract is ________ when all of the parties have fully performed their contractual duties.
A) void
B) executed
C) contingent
D) ineffective
Contractual Duties
Obligations that a party is bound to perform under the terms of a contract.
Void
That which is entirely null. A void act is one that is not binding on either party and that is not susceptible of ratification.
Executed
Completed or carried out; in legal terms, it can mean a contract or document that has been signed and made legally binding.
- Clarify and distinguish the differences between multiple categories of contracts, comprising implied, quasi, void, unenforceable, executed, unilateral, and bilateral contracts.
Verified Answer
KS
Kayla SmithMay 25, 2024
Final Answer :
B
Explanation :
A contract is executed when all of the parties have fully performed their contractual duties.
Learning Objectives
- Clarify and distinguish the differences between multiple categories of contracts, comprising implied, quasi, void, unenforceable, executed, unilateral, and bilateral contracts.