Multiple choice

Agreement to sale is an

  1. executed contract

  2. executory contract

  3. both of the above

  4. none of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

An agreement to sell is an executory contract because neither party has fulfilled their obligations - the seller hasn't transferred ownership, and the buyer hasn't paid. It becomes a sale (executed contract) only when property actually transfers.