CA Foundation Exam > CA Foundation Questions > Contract of Sale is _______________a)executor...
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Contract of Sale is _______________
- a)executory Contract.
- b)executed Contract.
- c)both of the above.
- d)none of the above
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Contract of Sale is _______________a)executory Contract.b)executed Con...
Contract of Sale is both an executory and executed contract.
Executory Contract
An Executory Contract is a contract in which one or both parties have yet to perform their obligations. In a Contract of Sale, it is an Executory Contract because the seller has an obligation to deliver the goods, and the buyer has an obligation to pay the price.
Executed Contract
An Executed Contract is a contract in which both parties have fulfilled their obligations. In a Contract of Sale, it is an Executed Contract when the seller has delivered the goods, and the buyer has paid the price.
Contract of Sale
A Contract of Sale is a legal agreement between a buyer and a seller, where the seller promises to deliver the goods, and the buyer agrees to pay the price. The agreement is typically in writing and outlines the terms and conditions of the sale, such as the price, quality, and quantity of the goods.
Conclusion
In conclusion, a Contract of Sale is both an Executory and Executed Contract. It is an Executory Contract until both parties fulfill their obligations, at which point it becomes an Executed Contract.
Executory Contract
An Executory Contract is a contract in which one or both parties have yet to perform their obligations. In a Contract of Sale, it is an Executory Contract because the seller has an obligation to deliver the goods, and the buyer has an obligation to pay the price.
Executed Contract
An Executed Contract is a contract in which both parties have fulfilled their obligations. In a Contract of Sale, it is an Executed Contract when the seller has delivered the goods, and the buyer has paid the price.
Contract of Sale
A Contract of Sale is a legal agreement between a buyer and a seller, where the seller promises to deliver the goods, and the buyer agrees to pay the price. The agreement is typically in writing and outlines the terms and conditions of the sale, such as the price, quality, and quantity of the goods.
Conclusion
In conclusion, a Contract of Sale is both an Executory and Executed Contract. It is an Executory Contract until both parties fulfill their obligations, at which point it becomes an Executed Contract.
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Contract of Sale is _______________a)executory Contract.b)executed Con...
Executed contract; a contract in which the promises are made and completed immediately, like in the purchase of a product or service. On the other hand, an executory contract means that the promises of the contract are not fully performed immediately.
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Contract of Sale is _______________a)executory Contract.b)executed Contract.c)both of the above.d)none of the aboveCorrect answer is option 'C'. Can you explain this answer?
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