A contract in which obligations remain unfinished by all parties is described as

• A. executed
• B. executory
• C. void
• D. voidable

Answer: (B)

In contract law, when obligations are still to be performed by all parties, the contract is described as executory. An executory contract has promises that remain unfinished, meaning no one has fully completed their duties yet. This differs from an executed contract, where all terms have been performed and nothing remains to be done. A void contract has no legal effect from the start, and a voidable contract is valid but can be canceled due to a defect or issue. So the situation described fits executory because the duties are still outstanding.