Executory and conditional definition
WebFeb 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. WebA has a defeasible fee simple estate subject to a condition subsequent, and the grantor has a right of entry. If the land is not used for a museum, then the grantor must take action to recover the land. If the grantor does not take action, the land will remain … Merely gives possession to the property rather than right or title to hold the …
Executory and conditional definition
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WebJul 9, 2013 · On the other hand, an executory contract means that the promises of the contract are not fully performed immediately. An example of an executory contract would be an apartment lease. When... 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...
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 … WebA fee simple subject to an executory limitation is an estate that ends when a specific condition is met and then transfers to a third party. The interest will not revert to the …
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. Webexecutor. a person nominated in a will by the testator to ingather the estate, pay all debts enforceable against the deceased and, after payment of any tax due and of the costs of …
WebMar 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 …
WebAn installment contract (also called a land contract or articles of agreement for warranty deed or contract for deed) is an agreement between a real estate seller and buyer, under which the buyer agrees to pay to the seller the purchase price plus interest in installments over a set period of time. boots to wear in the snowWebThe 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 … hats mount pleasantWebAn 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 … boots to wear under jeansWebAn executory contract is a contract that has not yet been fully performed or fully executed. It is a contract in which both sides still have important performance remaining. … boots to wear with 70s maxi dressWebThe majority of courts will define an executory contract as an agreement where both parties need to complete unperformed obligations. If either party fails to meet these … hats namemcWebExecutory refers to something (generally a contract) that has not yet been fully performed or completed and is therefore considered imperfect or unassured until … hats mpoWebMay 20, 2024 · In order to create a fee simple subject to executory limitation, the original owner would use either durational or conditional words that establish a condition and a third party to whom the property would go to if the condition is not met or is violated. hats mt pleasant mi