alleryWhere the consideration on both sides is a promise yet to be performed in the future, the contract is:
AExecuted
BVoid
CUnilateral
DExecutory
Answer & Solution
Correct answer: D. Executory
When obligations on both sides remain to be performed in future, the contract is executory.
Keep practising Nature of Contracts
Browse all Nature of Contracts questions for CA Foundation, or explore more Businesslaw topics.
Related questions
England passed the Statute of Frauds, favouring written contracts, in:Obligations that are voluntarily undertaken and owed to specific persons are traditionallyA peppercorn in contract law is an example of:If the law does not require a contract to be written, an oral contract is generally:An agreement to agree on key terms later is:In commercial agreements, the presumption is that the parties intend to:Domestic agreements between parent and child are typically:Mutual assent in forming a contract is also called a: