Executory Consideration Explained

Summary

Executory consideration refers to a situation in contract law where both parties have agreed to fulfill their obligations in the future. This involves an exchange of promises that are yet to be executed. For example, one party may promise to deliver goods at a future date, while the other promises to pay upon delivery. Understanding executory consideration is crucial for comprehending how future obligations are structured in contracts.

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Just give me one case
Sure, here's a simplified example case of executory consideration:
In a contract, Party A promises to deliver goods to Party B on a future date, while Party B promises to pay for the goods upon delivery. Both promises are executory because neither has been performed yet. The consideration is the exchange of goods for payment, which will occur in the future.
This is where the consideration is in the future
Executory consideration occurs when both parties in a contract have promised to perform certain obligations in the future. It's a common concept in contract law where the consideration (exchange of promises) is yet to be executed.
If you need more detailed examples or have specific questions about executory considerations, feel free to ask!
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