Multiple choice

Contracts may be classified on the basis of their validity, formation or performance. Contracts classified on the basis of performance are of which of the following types?

  1. executed contracts

  2. executory contracts

  3. partly executed or partly executory contracts

  4. all of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Contracts classified by performance fall into three categories: executed contracts (fully performed by all parties), executory contracts (yet to be performed by any party), and partly executed/partly executory contracts (some obligations fulfilled, others pending). Option D encompasses all valid classifications.

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