Executory and conditional definition
WebFeb 19, 2015 · 1. The status of an executory contract between filing of petition and assumption or rejection is subject to controversy. "Exactly how and when executory … WebAn executory interest is like the vested remainder subject to divestment in that the holder can only acquire possession if a condition subsequent becomes true, but if it does, the holder of the executory interest acquires possession right away.
Executory and conditional definition
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WebAn implied contract is one in which the terms and conditions are inferred by the actions of the parties involved. In an express contract, words, either written or verbal, are used to bring the contract to fruition, whereas an implied contract comes into existence as … Web1 : designed or of such a nature as to be executed in time to come or to take effect on a future contingency 2 : relating to administration Example Sentences Recent Examples on …
Webexecutory. adj. something not yet performed or done. Examples: an executory contract is one in which all or part of the required performance has not been done; an executory … WebOct 20, 2024 · The majority of courts apply the “Countryman test” to determine if a contract is executory, which provides that a contract is executory if the obligations of both the debtor and the other contracting …
WebContracts are also distinguished into executed and executory: executed, where nothing remains to be done by either party, and where the transaction is completed at the moment that the arrangement is made, as where an article is sold and delivered, and payment therefor is made on the spot; executory, where some future act is to be done, as where … WebJun 24, 2024 · An aleatory contract is an agreement whereby the parties involved do not have to perform a particular action until a specific, triggering event occurs. Events are those that cannot be controlled...
WebApr 11, 2024 · The Purchase Agreement provides for aggregate consideration in the form of (i) the Purchaser's assumption of certain Assumed Liabilities (as defined in the Purchase Agreement), including, but not...
WebIt is to be executed by the actual delivery by the donor to the donee, or to someone for him, of the thing given or by the delivery of the means of obtaining the subject of the gift, without further act of the donor to enable the donee to reduce it to his possession. team law clark njWebThe condition is essentially a condition precedent to taking the estate after the previous estate naturally ended. An executory interest is going to cut short the previous estate before it would have ended naturally. The … sowell gray robinsonWebFeb 19, 2015 · An executory contract which is not assumed or rejected during the bankruptcy will be unaffected by the bankruptcy filing, will pass through to, and be binding upon, the reorganized debtor. In re Polysat, Inc., 152 B.R. 886, 890 (Bankr. E.D. Pa. 1993); International Union v. team lawson mufflersWebThe meaning of EXECUTORY is designed or of such a nature as to be executed in time to come or to take effect on a future contingency. How to use executory in a … sowell groupeWebMar 30, 2024 · A condition precedent is an event that must occur, or a state of affairs that must exist, before something else will occur. In contracts that refer to a condition … team law surreyWebAn executed contract, as the name implies, is completed, an executory contract is to be executed or completed. An unpaid promissory note is an executory contract, when paid … sowell gray columbiaWebEXECUTORY CLAUSE. In accordance with Section 41 of the State Finance Law, the State shall have no liability under the Master Contract to the Contractor, or to anyone else, … sowell hifi